The Rwanda Development Bank, BRD, has announced that it has $100 million or more than 100 billion Rwandan Francs earmarked to facilitate and support business projects that protect the environment.
This amount of $100 million was approved for the Rwanda Development Bank at the United Nations Climate Conference, COP28, held in the United Arab Emirates, UAE, last year in 2023.
Habamungu Wenceslas, an investor who owns a company that recycles and distributes plastic materials and other equipment, spoke to the Rwanda Broadcasting Agency and mentioned that this money will allow him to expand his activities. Other financial institutions are hesitant to provide loans to his company due to the lack of insurance in their investments or the high interest rates charged in case of bankruptcy.
The BRD states that this funding will support investors as it will be offered for a long period of up to 12 years with low-interest rates.
Some of the environmental protection projects that will be supported in this campaign include the distribution of solar energy, electric vehicles, environmentally friendly construction projects, agricultural projects that adapt to climate change, and projects that recycle environmentally harmful waste into other useful materials.