Rwanda showcases climate finance strategy to EAC states, calls for private sector alignment

By The Inspirer.

Rwanda has positioned itself as a regional model in climate finance after presenting its strategy for mobilising resources for environmental protection to partner states of the East African Community (EAC).

Speaking at the annual EAC meeting on climate financing, the Minister of State in charge of public investment in the Ministry of Finance and Economic Planning, Mutesi Linda Rusagara, outlined how Rwanda has embedded climate action within its national budgeting and investment frameworks.

The high-level meeting brought together finance officials from Burundi, Democratic Republic of the Congo, Kenya, Somalia, South Sudan, Tanzania and Uganda, with Rwanda hosting the session. The event was organised by ministries of finance in collaboration with the Global Green Growth Institute (GGGI).

Rusagara emphasised that climate policy must go beyond environment ministries and be anchored in core economic governance.

“Climate change is not only an environmental issue; it affects the entire economy — from the national budget and public debt to investment decisions and long-term development planning,” she said.

She noted that Rwanda places the Ministry of Finance at the centre of climate coordination to ensure that public spending, policy direction and investment priorities are aligned. The approach also prioritises mobilising private capital and international financing to complement limited public resources.

GGGI’s Uganda representative, Pablo Martinez, highlighted that limited private sector engagement remains a major barrier to scaling climate action in the region. He stressed the need to design green projects as commercially viable investments capable of generating returns, particularly in sectors such as renewable energy.

He commended Rwanda’s progress, citing the Green Fund — formerly known as FONERWA — as a strong example of how blended finance mechanisms can attract both public and private investment.

Rwanda estimates it will require $12 billion by 2035 to implement its climate action strategy, targeting a 53 percent reduction in greenhouse gas emissions.