The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva commends Rwanda’s commitment to fighting climate change and being the first African country to access the IMF’s financing facility to build resilience to climate change.
The IMF Managing Director was in Rwanda for a three day on a three-day working visit from 24th to 26th January 2023. Her visit aimed to expand climate financing schemes for developing countries and explain the IMF’s new Resilience and Sustainability Trust (RST)
She participated in round table discussions with East African finance ministers and Central Bank governors to discuss the process to acquire climate financing under the RST.
She also engaged with Rwandan green entrepreneurs and young environmentalists to discuss climate change challenges and available opportunities that could help to alleviate the severe shocks due to climate change in vulnerable countries including Rwanda.
“I came to Rwanda knowing that what I would find here would be interesting. This is a very good project but it would be really effective and impactful if the concept gets translated allover Rwanda and it becomes the way of action where it’s appropriate” she said in a conversation held at Nyandungu Eco Park with young environmentalists.
The Director General of the Rwanda Environment Management Authority, Juliet Kabera, explained that after restoring Nyandungu wetland turned into an Eco Park, Rwanda has embarked on the rehabilitation of five additional wetlands in the City of Kigali. The rehabilitation of those wetland will not only contribute to floods control, but also promote ecosystem services and people’s wellbeing.
“At the IMF, we are making a big financial contribution to fight climate change, and we are more importantly changing the way we, at the IMF think about development. It is inclusive of reducing emissions and improving resilience of our societies our economies, our people and our planet” Georgieva revealed.