Rwanda NDC Deep Dive: Advancing Financial Innovation to scale up Climate Action

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The project focuses on institutional strengthening through the identification, design, and operationalization of non-grant financial instruments and initiatives designed to mainstream private sector climate investments into a broad range of sectors. The project provides support for Rwanda's Catalytic Climate Financing Facility; the development and implementation of instruments for green growth and climate resilience; and the preparation of flagship projects linked to Nationally Determined Contributions (NDC) and Rwanda's Strategic Program for Climate Resilience (SPCR). The project is implemented by Rwanda’s Green Fund (FONERWA), in collaboration with the Ministry of Environment, sectoral agencies, Ministry of Finance and Economic Development, and Rwanda’s Development Bank.The proposed CPF for FY21 – FY26 considers climate change as a priority and recognizes the need for the Bank’s program to support Rwanda’s NDC implementation. Rwanda’s growth model cannot be successful without prioritizing environmental sustainability and building resilience against climate change. The NDC Deep Dive project is one of the means the World Bank will support GoR to increase national capacity to access and mobilize public and private finance for climate change adaptation and mitigation.