April 19, 2024

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Going Green with Ireme Invest: Development Bank of Rwanda and Kigali Independent University sign Loan Agreement for Eco-Friendly Student Accommodation Project

The Development Bank of Rwanda has today signed a loan agreement with the Kigali

Independent University that will enable the construction of eco-friendly accommodation for up to 800 students.

The concessional loan has been offered under the Ireme Invest Credit Facility and will support Rwanda’s transition to smart and sustainable cities. Ireme Invest is Rwanda’s private-sector focused green investment facility and is powered by the Development Bank of Rwanda and the Rwanda Green Fund.

The eco-friendly student accommodation will include a lounge, recreation room and a dining hall equipped with a modern kitchen. It will utilise efficient LED lighting, sensors for water taps and showers, solar water heaters as well as natural ventilation for low-energy cooling. During construction, the project will create up to 325 jobs.

Thanks to its eco-friendly design, the project has received the EDGE Advanced Preliminary Certification, which is awarded to real estate projects with a minimum 40% reduction in energy, as well as at least 20% reduction in water use and embodied energy in materials at the design phase. The project is one of the first in Rwanda to acquire this certification.

At the conclusion of the project, it is estimated that energy savings of 43.91%, water savings of

39.35% and embodied carbon savings in materials of 38% will be achieved – compared to the EDGE system baseline.

This innovative partnership between BRD and ULK, made possible through Ireme Invest, demonstrates Rwanda’s commitment to join forces with the private sector to achieve carbon neutrality by 2050.

“We are pleased to partner with Kigali Independent University to advance Rwanda’s climate action agenda. Through the Ireme Invest Credit Facility, we are not only investing in climate-friendly student housing, but also nurturing and equipping the next generation of leaders with the values of sustainability and care for our planet. ” said Kampeta Pitchette Sayinzoga, Chief Executive Officer, Development Bank of Rwanda.

During the signing ceremony at the Kigali Independent University campus in Gisozi, Kampeta

Pitchette Sayinzoga, Chief Executive Officer, Development Bank of Rwanda, Prof. Dr. Rwigamba Balinda, Founder and President, Kigali Independent University and representatives from the Rwanda Green Fund and Agence Française de Développement planted trees.

“ULK is a future focused higher learning institution and we are proud to partner with BRD and Ireme Invest to build the first ever EDGE certified eco-friendly student accommodation in Rwanda. By building high quality, environmentally sound facilities, we are investing in the well-being of our students and contributing to Rwanda’s vision to be carbon neutral by 2050. ” said Prof. Dr. Rwigamba Balinda, Founder and President, Kigali Independent University

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