Rwanda: Wildlife Conservation Bond

pipeline

Disclaimer: THE FOLLOWING IS A SUMMARY OF A PROJECT WHICH IS SUBJECT TO COMPLETION AND AMENDMENT. IT IS NOT AN OFFER OR INVITATION TO SELL THE NOTES OR A SOLICITATION OF AN OFFER TO BUY THE NOTES, NOR DOES IT CONSTITUTE ANY FORM OF ADVICE. THIS SUMMARY IS SEPARATE FROM, AND SHOULD NOT BE READ IN COMBINATION WITH, ANY OFFER OR SALE OF THE NOTES, WHICH WILL BE MADE IN COMPLIANCE WITH APPLICABLE LAWS AND UNDER ENTIRELY SEPARATE LEGAL DOCUMENTATION AND OFFERING MATERIALS AT THE TIME OF OFFER. POTENTIAL INVESTORS SHOULD NOT SUBSCRIBE FOR ANY NOTES REFERRED TO IN THIS SUMMARY EXCEPT ON THE BASIS OF INFORMATION CONTAINED IN SUCH ENTIRELY SEPARATE LEGAL DOCUMENTATION AND OFFERING MATERIALS AT THE TIME OF OFFER. THIS SUMMARY IS VERY HIGH LEVEL FOR SIMPLICITY AND LEAVES OUT MATERIAL INFORMATION AND DOES NOT INLCUDE ANY LEGAL DOCUMENTATION THAT WOULD GOVERN THE NOTES.The Rwanda WCB will pilot a new financial instrument in an IDA country that passes project risk to capital market investors; a significant demonstration for financing public goods globally, allowing donors to pay only for successful outcomes. It links investment returns to a Key Performance Indicators (KPI) for protection of endangered Eastern Chimpanzees and ecosystem restoration. The KPI will trigger a partial/full conservation success payment based on the level of achievement of the project's outcomes. Target landscapes include two of Rwanda's four national parks (Nyungwe National Park - the largest tract of forest in Rwanda and one of Africa's biodiversity hotspots) and the Gishwati-Mukura National Park - a UNESCO Biosphere Reserve) and target conservation areas outside the parks. The project development objective is to protect endangered chimpanzee populations and promote restoration of biodiverse ecosystems within targeted conservation areas in Rwanda. The project will conserve endangered chimpanzee populations and improve degraded areas, protect wildlife habitats, generate jobs, and strengthen resilience through ecosystem restoration with enhanced conservation area management and benefit local communities. The project will support an evidence-based and adaptive management approach that uses data-supported interventions to dynamically respond to changes in performance risks. It will invest in conservation of biodiversity and enhancement of conservation area resilience (component 1), promote sustainable landscapes and nature-based resilience (component 2), and project management and M&E support (component 3) to execute project activities effectively and efficiently, including the ESF.