Rwanda Green Fund

Name

Rwanda Green Fund

Legal name

National Fund for Environment (FONERWA)

Website

https://greenfund.rw

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Rwanda Green Fund (FONERWA) is the Government of Rwanda's national climate finance vehicle that mobilizes and deploys donor capital through two facilities—Ireme Invest for private-sector SMEs and Intego for public-sector projects—channeling grants, equity, and concessional credit into Rwanda's climate adaptation and mitigation pipeline.

Ownership category

akta.pro rank

Product category

Climate Finance and Sustainable Investment Fund

NAICS

Grantmaking Foundations (813211), Funds, Trusts, and Other Financial Vehicles (525), Grantmaking and Giving Services (81321)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Climate Finance Funds & Green Investment Facilities (BPADACAH)

akta.pro secondary industries

Climate / Clean Tech & Decarbonization Funds (FSANAJAA), Environmental & Climate Grantmaking Foundations (BPAGAKAM), Climate Policy, Governance & NDC Support (BPADALAA), Sustainable Infrastructure & Resilient Cities Funds (FSANAJAC)

Keywords

• Climate finance mobilization
• Green investment facility
• Environmental fund management
• Climate adaptation financing
• Sustainable development funding

Headquarters

HQ city

Kicukiro

HQ country

Rwanda

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Climate Finance Mobilization: Rwanda Green Fund operates as a national financing vehicle that attracts and coordinates climate finance from development partners, private sector, and other stakeholders. The fund does not generate commercial revenue but mobilizes and deploys climate finance through grants, recoverable grants, equity investments, and credit facilities.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Rwanda Green Fund (FONERWA) is Rwanda's national financing vehicle that mobilizes and coordinates climate finance from international development partners, channeling it through two core facilities: Ireme Invest (grants, recoverable grants, equity, and concessional credit for private sector green businesses and SMEs) and Intego (grant-based blended financing for public sector climate adaptation and mitigation projects aligned with Rwanda's NDCs). With $364 million mobilized across 117 investments, the Fund supports climate-smart agriculture, sustainable cities, smart mobility, landscape restoration, renewable energy, and circular economy initiatives.

Product overview

Rwanda Green Fund operates as Rwanda's national financing vehicle for mobilizing and coordinating climate finance, managing a portfolio of two core financing facilities alongside flagship investment projects. The primary offerings are Ireme Invest (a green investment facility for private sector companies offering grants, recoverable grants, equity, and credit through BRD) and Intego Facility (Rwanda's NDC Facility providing public sector access to climate finance through blended grant-based financing with co-financing requirements). These facilities are complemented by flagship investments including Green City Kigali, Green Gicumbi Project, Nyandungu Eco-Park, and Article 6 carbon credit collaboration. With $364 million mobilized across 117 investments, the Fund targets climate adaptation and mitigation across sectors including climate-smart agriculture, sustainable cities, smart mobility, landscape restoration, renewable energy, and circular economy.

Differentiator

Problem solved

Functional benefit

Brands

• Ireme Invest: Green investment facility supporting Rwanda's private sector to access climate finance and increase contribution to climate response. Offers grants, recoverable grants, equity, and credit facilities through Project Preparatory Facility and Credit Facility.
• Intego Facility

Products and services

• Ireme Invest Rwanda's green investment facility supporting private sector access to climate finance through two instruments: Project Preparatory Facility (offering grants, recoverable grants, and equity) and Credit Facility (concessional loans through Development Bank of Rwanda). Targets green startups, SMEs, and businesses working on circular economy, sustainable cities, smart mobility, and climate-smart agriculture.
• Intego Facility Rwanda's NDC Facility providing public sector access to climate finance through blended financing (grants, co-financing, and technical assistance) for adaptation and mitigation projects aligned with Rwanda's Nationally Determined Contributions under the Paris Agreement. Targets government ministries, agencies, districts, and the City of Kigali.
• Adaptation Fund Enhanced Direct Access (EDA) Rwanda Subnational Adaptation Fund EDA project channeling Adaptation Fund grants to CSOs and local government entities for Climate Smart Agriculture, Small Scale Irrigation, and Sustainable Land Management projects at community level.
• Green Gicumbi Project Six-year climate resilience initiative strengthening rural community resilience in Northern Rwanda through watershed protection, climate-smart agriculture, sustainable forest management, clean energy adoption, and resilient settlements. Directly benefited 158,000+ people, indirectly impacted 464,000+ citizens.
• Green City Kigali

Quantifiable outcome

• 340K tonnes of CO2 emissions avoided
• +5 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and supporting.

• Gold StandardcoreStrategic or Co-development Partner · 19 September 2024Collaboration agreement to develop Article 6-compliant carbon credit projects in Rwanda. First-ever Article 6 credits were issued by Gold Standard to a project in Rwanda.
• International Finance Corporation (IFC)coreStrategic or Co-development PartnerPartnering with Rwanda Green Fund to develop long-term investment plans for climate smart agriculture and sustainable urbanization, increasing private sector role in greening Rwanda's economy.
• Development Bank of Rwanda (BRD)coreChannel Partner/ Reseller/ DistributorHosts the credit facility component of Ireme Invest, providing concessional loans and credit guarantees to private sector green investments. Partnered for EUR 20 million loan with EIB.
• Rwanda Environment Management Authority (REMA)coreStrategic or Co-development PartnerGovernment partner implementing wetland restoration projects including Nyabugogo Wetland Restoration Initiative. Rwanda's designated national authority under Article 6.
• Kigali International Financial Centre (KIFC)supportingStrategic or Co-development PartnerFinancial hub partner supporting Rwanda's green finance ecosystem and investment facilitation.
• Global Green Growth Institute (GGGI)supportingStrategic or Co-development PartnerSupporting green growth initiatives and climate finance coordination in Rwanda.
• UN Environment ProgrammesupportingStrategic or Co-development PartnerPartnered for Nyandungu wetland restoration project funding and environmental protection initiatives.
• World Resource Institutes (WRI)supportingStrategic or Co-development PartnerKnowledge and technical partner supporting Rwanda's climate action and sustainable development planning.
• Ministry of EnvironmentcoreStrategic or Co-development PartnerGovernment ministry overseeing Rwanda's climate policy and partnering with Rwanda Green Fund for national climate action implementation.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Adaptation Fund: Multilateral fund financing adaptation projects in developing countries, with Rwanda Green Fund serving as an implementing entity for the EDA program. Operates at a higher level in the climate finance architecture but shares focus on subnational adaptation investment.
• Climate Investment Funds (CIF): A multilateral financing mechanism designed to mobilize climate finance at scale in developing countries. CIF partners with Rwanda Green Fund on climate investments and shares a similar blended-finance approach for clean technology and adaptation.
• Green Climate Fund (GCF): The global multilateral climate fund that Rwanda Green Fund accesses as a delivery partner. GCF channels climate finance to developing countries and accredits entities like Rwanda Green Fund as implementing partners, making them directly comparable in mission and structure though vastly larger in scale.

Direct peers

• Acumen: Impact investment fund providing patient capital and capacity building to early-stage companies addressing poverty and climate challenges in emerging markets. Acumen shares Rwanda Green Fund's focus on concessional capital for green SMEs in developing economies.
• Global Green Growth Institute (GGGI): Intergovernmental organization supporting green growth in developing countries through policy advice and investment mobilization. GGGI partners with Rwanda Green Fund on green growth initiatives and shares comparable mission and donor ecosystem.
• Africa Climate Foundation: African-led climate change grantmaking foundation mobilizing resources for climate action on the continent. Operates in the same climate finance ecosystem as Rwanda Green Fund, with overlapping donor relationships and a comparable African focus.
• Climate Fund Managers (CFM): An investment manager focused exclusively on climate-related infrastructure and renewable energy projects in emerging markets. CFM operates blended-finance funds comparable to Rwanda Green Fund's Ireme Invest and Intego facilities.
• Kenya Climate Innovation Center (KCIC): Kenya's national climate innovation hub providing incubation, acceleration, and financing to green businesses. KCIC shares Rwanda Green Fund's Ireme Invest model of supporting green SMEs and startups with concessional capital and capacity building.
• South Africa Green Fund: A national green financing facility established by the South African government to support green initiatives, low-carbon economy, and climate-resilient development. Directly comparable to Rwanda Green Fund in mandate, structure, and role as a government-backed climate finance vehicle.

Others

• Convergence Blended Finance: Global network for blended finance that mobilizes private capital for development and climate goals. Convergence operates in the same blended-finance ecosystem as Rwanda Green Fund, providing deal origination and capital mobilization support.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/GreenFundRw
• Facebookfacebook.com/RwandaGreenFund

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rwanda Green Fund