Rwf110bn secured for climate resilience project in volcanoes region

Rwanda and European Investment Bank (EIB) have signed a €65 million financing agreement (approx. Rwf110 billion) to strengthen climate resilience across the volcanoes region, the Ministry of Finance and Economic Planning (MINECOFIN) said. ALSO READ: 300,000 hectares need restoration in volcanic region The funding will support the Volcanoes Community Resilience Project (VCRP), a major initiative aimed at reducing flood risks, restoring degraded watersheds, and strengthening ecosystems across eight districts highly vulnerable to landslides, soil erosion, and other climate-related hazards. The project is expected to benefit about 2.3 million people living in areas vulnerable to floods, landslides and soil erosion. It will support investments in flood risk reduction infrastructure, watershed restoration, landscape rehabilitation, biodiversity conservation, and sustainable livelihood opportunities for local communities in north-western Rwanda. The project covers the districts of Burera, Gakenke, Musanze, Nyabihu, Ngororero, Rubavu, Rutsiro, and Muhanga, where recurring floods, landslides, and land degradation have continued to threaten communities, agricultural production, and infrastructure. ALSO READ: Major resilience project begins paying off for north-west Rwanda communities The investment will finance flood protection infrastructure, watershed restoration, landscape rehabilitation, and erosion control measures. It will also promote biodiversity conservation while creating sustainable livelihood opportunities for local communities. The Ministry of Environment is coordinating the project, which is implemented in collaboration with the Rwanda Water Resources Board, the Rwanda Meteorology Agency, the Rwanda Environment Management Authority, the Rwanda Development Board. The Volcanoes Community Resilience Project was launched in 2023 with support from development partners, including the World Bank, as part of a broader effort to improve climate resilience in the region. The wider initiative, valued at more than $300 million, seeks to reduce climate-related risks, restore degraded landscapes, strengthen disaster preparedness, and improve the livelihoods of communities living in and around Volcanoes National Park.

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Rwf110bn secured for climate resilience project in volcanoes region