Rwanda needs international support to cover 80% of the estimated $12 billion investment required to achieve its target of reducing greenhouse gas emissions by 53% by 2035.
The Prime Minister, Dr Justin Nsengiyumva, announced this while attending the United Nations Climate Change Conference, COP31, taking place in Antalya, Türkiye.
Nsengiyumva explained that Rwanda will need $12 billion to meet the target, with 80% expected to come from international support and the remainder mobilised domestically.
The 53% emissions reduction target by 2035 is measured against the projected level of emissions that would occur without additional measures to curb them.
The Prime Minister said achieving the target would require predictable, adequate and easily accessible international financing to enable Rwanda to implement its commitments on environmental protection and climate action.
“This requires an investment of $12 billion, 80% of which depends on international support. We need predictable, accessible and adequate financing to achieve these targets,” he said.
Nsengiyumva noted that developing countries continue to face difficulties accessing the funding needed to implement environmental projects, even when they have viable initiatives capable of delivering meaningful results.
He called for a shift in the mindset of financiers, urging them to stop treating investments in developing countries as inherently riskier than those in wealthier nations.
Referring to remarks recently made by President Paul Kagame at the Commonwealth Heads of Government Meeting, he stressed that investment decisions should be based on the value and potential of projects rather than the countries in which they are located.
He also emphasised the need for partnerships between governments and the private sector to ensure that climate-related projects are well designed, attract investment and do not leave countries with debts they cannot repay.
Rwanda has committed to reducing greenhouse gas emissions as part of global efforts to tackle climate change. Its measures include promoting clean energy, environmentally friendly transport and sustainable management of natural resources.
