Boosting Green Finance, Investment and Trade in Rwanda

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The development objective of Boosting Green Finance, Investment and Trade in Rwanda Programmatic Development Policy Financing Project for Rwanda is to support the implementation of a reform agenda to boost green, private sector-led growth in Rwanda and stimulate green investments. This operation supports a far-reaching reform program that reflects the Government’s goals to stimulate private sector-led and green growth captured in Rwanda’s Vision 2050. This project has two pillars as follows: Pillar A: Increase the private sector’s participation, trade, and contestability; and Pillar B: Facilitate climate finance and green public and private investments. This programmatic DPF series removes key constraints to private sector investment and green growth through synergistic reforms prioritized based key lessons learned from the World Bank’s extensive experience in preparing DPF operations and specific selection criteria. The set of reforms is aligned with the World Bank’s Country Partnership Framework (CPF) 2021–2025, with a focus on maximizing finance for development, expanding the economic role of the private sector, and promoting green growth. This programmatic series with two single-tranche operations is designed to help the GoR address key priorities set out in the World Bank’s Systematic Country Diagnostic (SCD) (2019), most notably on the theme of market and private sector development. The programmatic DPF series is closely aligned to the World Bank’s CPF FY2021–2026. This programmatic DPF series also builds on the overall objectives of Rwanda’s NST1 (2017–2024) which provides the medium-term framework for achieving the country’s development aspirations. Finally, this programmatic DPF meets the World Bank’s commitment to aligning its financial flows with the Paris Agreement and the country’s pathway toward low greenhouse gas emissions and climate-resilient development.