Rwanda’s Development Bank Joins Green Climate Fund as New Accredited Entity

Songdo, Incheon – February 17, 2025 – In a significant move towards strengthening climate finance efforts, the Green Climate Fund (GCF) has announced the approval of several new Accredited Entities during its Forty-first Board meeting held in Songdo, Incheon, Republic of Korea.

Among the newly accredited entities is the Development Bank of Rwanda (BRD), which will now play a pivotal role in funding and implementing climate-related projects across the region.

The GCF, established to support the efforts of developing countries to respond to the challenge of climate change, has embraced a diverse range of Accredited Entities that include both private and public sector organizations.

The latest approvals also include ACTED, Arm Swiss Bank, the Eastern and Southern African Trade and Development Bank (ESATDB), the ECOWAS Bank for Investment, and the Fonds d’Intervention pour l’Environnement (FIE).

Accredited Entities are essential partners for the GCF, tasked with transforming innovative ideas into actionable projects that align with the investment framework and priorities of developing nations. They collaborate closely with governments to develop funding proposals that are then submitted for GCF Board approval.

The inclusion of BRD in this prestigious group reflects Rwanda’s commitment to climate resilience and sustainable development. As an Accredited Entity, BRD will not only facilitate access to GCF resources but also oversee the management and monitoring of various climate initiatives aimed at mitigating the impacts of climate change.

The GCF’s decision to approve these entities comes at a crucial time when global attention is focused on addressing climate change challenges. With countries increasingly looking for collaborative solutions, the role of accredited entities becomes vital in ensuring effective project implementation and resource allocation.

As BRD joins the ranks of these esteemed organizations, it stands poised to contribute meaningfully to the global fight against climate change, fostering sustainable development and resilience in Rwanda and the wider East African region.