The Development Bank of Rwanda has secured accreditation from the Green Climate Fund (GCF), marking a pivotal moment for Rwanda’s financial sector.
The decision, made at the GCF’s 41st Board Meeting in South Korea, makes BRD only the second financial institution in East Africa and the fourth national development bank in Africa to receive the accreditation.
The milestone enhances BRD’s capacity to mobilize climate finance, reinforcing its role in driving Rwanda’s transition to a green economy. Until now, Rwanda’s Ministry of Environment was the only GCF-accredited entity in the country. BRD’s accreditation unlocks access to concessional GCF funding, allowing it to scale up Ireme Invest—Rwanda’s flagship climate finance facility—across the financial sector. The initiative is expected to accelerate climate-resilient investments and integrate sustainability into financial portfolios.
“This accreditation is a testament to BRD’s commitment to championing green finance in Rwanda,” BRD CEO, Kampeta Sayinzoga said.
“It positions us as a key enabler of climate action, allowing us to mobilize concessional resources to green the financial sector. With GCF support, we can scale up Ireme Invest and strengthen Rwanda’s climate resilience through sustainable investments. We are grateful to the Government of Rwanda, particularly the Ministry of Environment, for their unwavering support,” Sayinzoga noted.
The move aligns with Rwanda’s Nationally Determined Contributions (NDCs) and broader sustainability goals. By gaining access to GCF funding, BRD is set to collaborate with public and private sector stakeholders to implement climate-smart projects that drive adaptation and mitigation efforts.
BRD joins the ranks of the Development Bank of Southern Africa, the Development Bank of Nigeria, and the Development Bank of Zambia as the fourth national development bank on the continent accredited by GCF. Other African financial institutions accredited include the African Development Bank, Africa Finance Corporation, the Eastern and Southern African Trade and Development Bank, and Ecobank Ghana.
The accreditation signals a broader shift in Rwanda’s financial landscape, positioning BRD at the forefront of climate finance and sustainable economic development in Africa.
