Kigali, Rwanda – At the 30th Conference of the Parties (COP30) in Belém, Brazil, Rwanda highlighted its continued collaboration with the International Monetary Fund (IMF) to integrate environmental policies into national development strategies. The discussions took place between Rwanda’s Minister of Environment, Dr. Arakwiye Bernadette, and IMF Deputy Managing Director, Bo Li.
Dr. Arakwiye emphasized Rwanda’s commitment to reducing greenhouse gas emissions by 38% by 2030, as outlined in the country’s Nationally Determined Contributions (NDCs) submitted to the United Nations. The country has also made significant progress in renewable energy: solar, wind, and hydroelectric power now account for 30% of the national energy mix, with plans to increase this to 60% by 2035.
To support these initiatives, the Rwandan government, through the Green Fund (FONERWA), has invested over $250 million in environmental projects. These include 46 initiatives that have created employment for more than 200,000 citizens nationwide.
Bo Li praised Rwanda’s progress toward sustainable economic growth and reaffirmed IMF support, both financially and technically, for projects that reduce emissions and promote renewable energy.
However, Teresa Anderson, Global Lead on Climate Justice at ActionAid, raised concerns about the financial approach used in such projects.
“This fund is like gambling in financial markets. Public resources are limited and should reach forest communities directly rather than being tied up in financial mechanisms that are not guaranteed to raise money or benefit people on the ground,” Anderson said. She added that the initiative could place additional burdens on countries already struggling with debt and climate-related disasters, contradicting the principles of fair climate finance.
Anderson stressed that in addressing the climate crisis, “the rights and needs of frontline communities must be at the center of all decision-making.”
Rwanda continues to be recognized as a model in Africa for implementing green economy policies, including promoting renewable energy, improving waste management, and conserving forests and water resources. Forests currently cover 30.4% of Rwanda’s land, with a target of reaching 35% by 2030.
