Following its series of investments in green SMEs earlier in June through Intego, the Rwanda Green Fund continues its efforts with new investments in the form of loans and grants for green projects.
First Round of Investments
On Friday, June 21, 2024, the Rwanda Green Fund announced its first round of investments through the Ireme Invest mechanism in green startups and SMEs whose products and services are linked to environmental preservation.
These seven companies will receive a total of 2.7 billion Rwandan francs, or $2 million. Provided with the participation of the German Agency for International Cooperation for Development (GIZ), this funding will enable these companies to develop their activities while contributing to the country’s green growth and climate resilience.
Additional Grants for Green Solutions
Additionally, nine other companies offering high-potential solutions with environmental and economic impact will receive grant investments totaling 2.3 billion Rwandan francs.
A total of 16 companies are involved in this funding project from the vehicle created in 2012. The Rwanda Green Fund anticipates a second round of green investments in Rwanda through the Ireme Invest mechanism by the second half of the current year.
Earlier Investments
Earlier this June, the Fund approved 10 investments totaling 43.6 billion Rwandan francs in local companies through Intego, its climate-focused financing mechanism.