The accreditation was granted during the 41st GCF Board Meeting held in South Korea.
This achievement positions BRD as a key player in mobilizing climate finance to support Rwanda's transition to a green economy.
The recognition allows BRD to access concessional funding at scale, further strengthening Ireme Investâ€"Rwanda's flagship climate finance initiativeâ€"across the financial sector. By doing so, BRD aims to accelerate sustainable investments and integrate climate considerations into financial portfolios.
Expressing her enthusiasm, BRD Chief Executive Officer, Ms. Kampeta Sayinzoga, highlighted the significance of this development, explaining how it positions BRD to further its green finance initiatives:
'This accreditation is a testament to the rigorous efforts BRD has undertaken to champion green finance in Rwanda. It reinforces our position as a key enabler of climate action, allowing us to mobilize concessional resources to green the financial sector. With the support of the Green Climate Fund, we are now better positioned to scale up Ireme Invest and strengthen Rwanda's climate resilience through sustainable investments.'
The accreditation also reinforces BRD's commitment to fostering partnerships that drive climate finance. By working closely with stakeholders in both the public and private sectors, the bank aims to implement climate-smart projects that contribute to Rwanda's ambitious sustainability goals.
BRD now joins an elite group of African financial institutions accredited by the GCF, including the Development Bank of Southern Africa, the Development Bank of Nigeria, and the Development Bank of Zambia.
Other accredited institutions on the continent include, among others, the African Development Bank, the Eastern and Southern African Trade and Development Bank, Africa Finance Cooperation, Banque Ouest Africane De Development (BOAD), ECOWAS Bank
for Investment and Development, Fonds d'Intervention pour I'Environnement (FIE), KCB Bank Kenya Limited and Ecobank Ghana.
As Rwanda's sole development finance institution, BRD has played a critical role in driving the country's economic transformation since its establishment in 1967. With a strong focus on infrastructure, agriculture, affordable housing, green finance, and exports, BRD continues to position itself at the forefront of sustainable development financing.
This accreditation is expected to strengthen Rwanda's financial ecosystem by ensuring that institutions are better equipped to support climate adaptation and mitigation initiatives. It also aligns with Rwanda's Nationally Determined Contributions (NDCs) and Vision 2050, reinforcing the country's commitment to climate resilience and low-carbon growth.
The Green Climate Fund, the world's largest dedicated climate fund, was established under the UNFCCC to support developing nations in tackling climate change. By providing financial resources for climate adaptation and mitigation projects, the GCF helps mobilize funding for transformative climate action worldwide.
Wycliffe Nyamasege
