NDF - Financing for climate change and development projects

Rwanda Catalytic Green Investment Bank (RCGIB) [NDF C126]

Photo: Aage Jorgensen
Photo: Green Climate Fund
22.05.2020
The objective of the proposed NDF project is to support the design, capacity-building, and capitalisation of Rwanda Catalytic Green Investment Bank (RCGIB)
Rwanda
Rwanda Catalytic Green Investment Bank (RCGIB)
Ref. NDF C126
 
NDF Booster Grant EUR 0.35 million
Project Period: 2020-2021
Partner Agency: African Development Bank (AfDB)
Implementing Agency: Procurement in process of the services needed
 
Objective

The overall objective of the proposed project is to support the design, capacity-building, and capitalisation of Rwanda Catalytic Green Investment Bank (RCGIB). 

The specific objective of the proposed NDF Booster project is to provide co-financing for the collaborative engagement to develop the GCF funding proposal and the required attachments and to support Rwanda’s National Green Fund FONERWA in becoming a Green Bank. The Green Bank is expected to be more of a public-private partnership that will initially focus on provision of loans, non-reimbursable and reimbursable grants for financing pipeline projects.

The following activities have been proposed to be financed by NDF:
1) Establish the RCGIB legal structure as an upgrade of FONERWA;
2) Prepare a full proposal for GCF, including development of RCGIB structure and operating procedures: and
3) Define and initiate the RCGIB staffing and recruitment process. 
 
The following outcomes are expected:
1) The RCGIB is established as a legal structure and as an upgrade of FONERWA;
2) A full funding proposal is prepared and submitted to the Green Climate Fund (GCF) for financing the capitalisation of the RCGIB; and
3) The core organisational elements of the RCGIB are defined and assembled. 
 
Financing
The total project cost estimate is EUR 683,000. NDF is providing EUR 350,000 in grant while AfDB’s in-kind contribution is estimated at 91,000 EUR, UNDP has provided approximately EUR 228,000 and FONERWA has provided 14,000 EUR. 
 
NDF Contact
Program Manager Martina Jägerholm
Telephone: +358 106 18002
 
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