Rwanda and the European Union are courting major European investors to tap into the country’s green bond market, marking a key step in advancing sustainable finance in East Africa. A high-level roundtable in Kigali on January 23 brought together leading European asset managers and Rwandan financial institutions to explore investment opportunities.
Among the European firms attending were Amundi, AP2, and Crédit Agricole CIB, one of the most active banks in the green bond space. They met with Rwandan financial heavyweights, including the Development Bank of Rwanda (BRD) and the Rwanda Social Security Board (RSSB), to discuss issuance strategies and market conditions for green finance.
The push comes as Rwanda positions itself as a regional financial hub with ambitious climate goals.
“In Rwanda, sustainability is deeply embedded in our development agenda, as articulated in Vision 2050 and the National Strategy for Transformation,” Minister of Finance and Economic Planning, Yusuf Murangwa said.
“We recognize that achieving these ambitious goals requires innovative financing mechanisms, such as green bonds, which are pivotal in addressing climate and sustainability challenges while fostering economic growth,” he added.
The European Union is leveraging its Global Green Bond Initiative (GGBI) to catalyze investor interest in Rwanda’s growing green finance sector. European investors shared their investment criteria for emerging markets, while experts from Morningstar Sustainalytics and the Luxembourg Stock Exchange provided insights on ESG ratings and listing requirements. Crédit Agricole CIB also weighed in with its expertise as a top underwriter of green bonds in emerging markets.
“The presence of major European investors in Kigali demonstrates the growing interest in Rwanda’s sustainable and climate finance opportunities,” EU Ambassador to Rwanda, Belen Calvo Uyarra, said
“We’re not just talking about potential—we’re actively connecting investors with opportunities, leveraging the EU Global Gateway to deliver on our shared climate ambitions,” she added.
Discussions at the roundtable addressed key aspects of green bond issuance, including:
• Market enabling conditions and challenges
• ESG data requirements and standards
• Technical assistance through the GGBI
• Local versus international market considerations
The meeting comes as global investors increasingly seek sustainable investment opportunities in emerging markets, with Rwanda positioning itself as an attractive destination for green finance.
