en
Co-funded by the European Union
Co-funded by the European Union
Location
Rwanda
Topic
Access to Finance
Beneficiary
Development Bank of Rwanda
Status
Completed
Year
2021-2022
The Development Bank of Rwanda (BRD) chose the topics of the support based on its priorities. The two topics chosen by the BRD are:
The Rwandan Development Bank BRD was supported by the ICR Facility from 2021-2022 in preparing its accreditation application for the Green Climate Fund (GCF). BRD’s policies, procedures, and products have been assessed to identify how well they meet the accreditation requirements to the GCF. Technical assistance and capacity building were provided to help the Bank meet these requirements. The application was approved by the GCF in February 2025, making BRD the fourth national development bank on the African continent to be accredited by the GCF. With this accreditation, BRD can now access climate finance on a larger scale to mobilise further investments in green sectors.
The required documentation (Policies/procedures, including e.g. polices on gender, environmental and social safeguards) were updated based on GCF requirements, and GCF is currently reviewing BRD’s accreditation application.
On M&E, a revised policy was adopted by the BRD Board, including a new impact dimension in BRD’s Balanced Scorecard. Also, a dashboard was developed to monitor the bank’s institutional performance. To assess the impact of projects before investment and lending decisions are made, an Impact Measurement Tool was developed and is now in use by BRD. Overall, BRD‘s reporting on impact development has improved.
