The Development Bank of Rwanda has successfully listed the second tranche of its Sustainability-Linked Bond on the Rwanda Stock Exchange, marking another step forward in the country’s efforts to promote sustainable finance.
The Rwf30 billion bond, part of a Rwf150 billion Medium-Term Note Program, was oversubscribed by 30.2 percent, reflecting strong investor confidence in Rwanda’s green development agenda.
Rwanda’s Minister of Finance and Economic Planning, Yusuf Murangwa, opened trading by ringing the bell at the RSE. He emphasized the broader significance of the listing.
“This marks a significant milestone in Rwanda’s journey towards sustainable development. Through this listing, we are signaling to both domestic and international investors that Rwanda is ready and open for business, particularly in areas that align with global sustainability priorities,” Murangwa said.
The bond proceeds will be directed toward projects that support Rwanda’s National Strategy for Transformation, which aims to mitigate climate change and promote a low-carbon economy. These projects will focus on preserving ecosystems and promoting resource conservation.
The Rwanda Stock Exchange CEO Pierre Celestin Rwabukumba praised the BRD’s forward-thinking approach, noting that the SLB’s listing underscores the role of financial markets in addressing environmental challenges.
“This listing draws a straight line between financial markets and key projects intended to mitigate climate change, conserve resources, and promote a low-carbon economy,” Rwabukumba said.
Development Bank of Rwanda’s CEO Kampeta Sayinzoga highlighted the bank’s ongoing commitment to sustainable finance.
“We sincerely appreciate the unwavering support from the Government of Rwanda and all stakeholders involved in this special issuance. It motivates us to continue innovating and finding new ways to raise financing for Rwanda’s national development agenda,” Sayinzoga said.
World Bank Country Manager Sahr Kpundeh also lauded the bond’s success, recognizing it as more than just a financial achievement.
“Today’s success is a testament to Rwanda’s leadership and forward-thinking approach to driving sustainable development through innovative financing mechanisms,” he said. “This bond exemplifies our shared commitment to advancing sustainability and demonstrates the power of partnerships between institutions like BRD and the World Bank,” Kpundeh noted.
The success of the second tranche of BRD’s SLB not only reinforces Rwanda’s status as a pioneer in sustainable finance in the region but also sets a blueprint for leveraging capital markets to achieve critical national and global sustainability goals.
