In an effort to further promote Rwanda’s conservation efforts, government has committed to finance the rehabilitation of five wetlands around the City of Kigali.
The remaining five wetlands to be restored are at Rwampara, Nyabugogo, Kibumba, Rugenge, and another in Gikondo.
Dr. Faustin Munyazikwiye the Deputy Director General of Rwanda Environment Management Authority (REMA) says government has sent aside Rwf 12 billion to rehabilitate the five wetlands covering 500 hectares.
“The main purpose of rehabilitation is to control floods in the hilly city of Kigali with various valleys that receive water. Secondly, to offer recreation for public and education purposes” he observed
“We’re now conducting the feasibility study and details designs which will end by this year, before progressing with the timeframe for the implementation of these projects which is 36 months” Dr. Munyazikwiye revealed.
Further adding that the project implementation has various dynamics, including the actual schedule of issuing out construction tenders after the studies are done.
Rwampara wetlands project will be funded by Nordic Development Fund, while Global involvement Facilitate will fund the other urban wetlands.
Meanwhile, all funds will be implemented by the World Bank which will also assist to leverage additional finance for the completion of the project.
Dr. Munyazikwiye further pointed out that, they’ve noticed a low response from the private sector to take up such green conservation opportunities because such opportunities have long-term returns.
“Government is trying to put up a risk-adjusted mechanism to help the private sector to capitalize in green projects without necessarily having a high risk of losing their investments” He noted.
He further underlined that the Rwanda Green Fund (FONERWA) in partnership with Rwanda Development Bank (RBD), has set up a credit line with a low interest of 30 percent to help business communities to embrace green conservation projects.
So far, FONERWA has mobilized $216 million aimed to fund public and private projects. The project has already financed 45 investments, since 2012, reducing 127,000 tons of carbon emissions and creating 162,000 green jobs.
“There are so many opportunities in the green natural conservation projects, which can attract private investments,” He observed adding, “We cannot say that there no benefits, already Nyandungu Eco-Park opened to the public on July 8, 2022 and attracts a registration of 700 people per day.”