Rwanda’s green economy transition gained fresh momentum on May 15 after the Development Bank of Rwanda (BRD Plc.) and Italian financial institution Cassa Depositi e Prestiti (CDP) signed a €30 million (approx. Rwf51 billion) financing agreement, aimed at supporting climate-resilient and sustainable development projects in Rwanda. This landmark transaction, funded through the Italian Climate Fund that is managed by CDP on behalf of the Italian Ministry of the Environment and Energy Security (MASE), underscores expanding Rwanda–Italy cooperation on climate finance and green development. The agreement was signed by Davide Petrangeli, Head of Financing for Multilateral Institutions and Public Development Banks for Development Cooperation at CDP, and Stella Rusine Nteziryayo, CEO of BRD on May 15, on the sidelines of the Africa CEO Forum in Kigali. “With this operation, we are transforming resources into tangible investments: more clean energy, more sustainable mobility, and greater urban resilience” said Italy’s Minister for Environment and Energy Security, Gilberto Pichetto. “These funds are not just support, but an operational lever to drive economic development, employment, and new opportunities in partner countries.” Financing to drive Rwanda’s green transition The financing is a key component of the Ireme Investment Facility, a strategic initiative by the Government of Rwanda, managed by BRD, to address local market gaps in the financing of green and climate-resilient projects. Ireme Invest supports Rwanda’s private sector to grow green businesses and strengthen climate resilience through tailored financing solutions. The resources under the new partnership will be channelled into high-impact projects designed to mitigate climate change and promote sustainable development across the country, according to the signatories. “This partnership reflects our unwavering commitment to financing Rwanda’s sustainable green future. Through this agreement, we are bridging critical financing gaps and unlocking the potential of the private sector to act as the primary engine of our green transition,” said Stella Nkusi Nteziryayo, CEO of BRD. “Together, we are ensuring that Rwanda’s growth is both inclusive and environmentally sustainable for generations to come.” Priority sectors targeted Specifically, the financing will target critical sectors of the green economy, including renewable energy by supporting the development of hydropower plants for renewable energy generation, supporting electric mobility through the modernisation of the public transport vehicle fleet and urban adaptation through promoting the development of greener, more inclusive, and resilient urban areas to benefit local communities. A growing Rwanda–Italy partnership on climate action Carlo Rossotto, the Director of Development Cooperation and International Institutional Relations at CDP said: “The agreement with BRD represents a strategic step for Cassa Depositi e Prestiti in strengthening its commitment to mitigating the effects of climate change and supporting the green transition in partner countries.” “Through the Italian Climate Fund, the initiative helps mobilise resources for high environmental impact projects, promoting sustainable and resilient growth in line with Rwanda’s climate priorities and Italy’s international commitments.” By partnering with the IREME Investment Facility, CDP reinforces its role as an enabler of climate resilience and aligns with BRD’s strategic vision to drive Rwanda’s green economy transition, the signatories observed. About CDP Cassa Depositi e Prestiti is the National Promotional Institute which has been supporting the Italian economy since 1850. The main goal of CDP is to accelerate the industrial and infrastructural development of Italy to boost its economic and social growth. CDP focuses its activities on sustainable development at local level, supporting the innovation and growth of Italian enterprises, also in the international arena. It partners local authorities, in a financing and advisory capacity, to create infrastructures and improve public value services. CDP also participates actively in international cooperation initiatives to realise projects in developing countries and emerging markets. Cassa Depositi e Prestiti is entirely financed by private capital, through the issuing of Postal Savings Bonds and Postal Savings Passbooks, and through issues on national and international financial markets. About BRD Established in 1967, the Development Bank of Rwanda (BRD) is the country’s sole national development bank. BRD supports sustainable development by offering affordable, long-term, and tailored finance. Over the past 59 years, BRD has financed projects in key sectors such as infrastructure, agriculture, and green finance, critical for achieving Rwanda’s national development agenda.
