Rwanda has won approval of a US $250,000 grant under the Climate Investment Funds’ Forest Investment Program (CIF FIP) to prepare its national-level FIP Investment Plan (IP) with the backing of the African Development Bank (AfDB).
Prior to this, Rwanda was selected by the CIF, one of the largest fast-tracked climate financing instruments in the world in May 2015 as part of a third round of countries approved for support by the FIP.
The Forest Investment Program (FIP) within the Climate Investment Funds (CIF) is a targeted program established to support countries’ efforts to reduce emissions from deforestation and forest degradation and promote sustainable forest management and enhancement of forest carbon stocks (REDD+).
“Rwanda was chosen by the FIP to receive Investment Plan support, based on its potential to contribute to climate mitigation and generate enhanced development co-benefits, as well as its ability to implement funding,” stated Gareth Phillips, AfDB’s coordinator for the FIP.
With a target of covering 30% of its landmass with forests by 2020, the Government of Rwanda is committed to transforming its rural sector into a more sustainable and low carbon economy, through sustainable forest management and preservation of national forest ecosystems.
The country intends to use FIP funding to build upon this political momentum to ensure that it will effectively support and enhance its already robust forestry policies. In line with this, the IP will supply the country with an agroforestry action plan through 2020, along with analyses of national forest policies and strategies, deforestation and forest degradation status, and potential mitigation and adaptation measures.
The AfDB, acting as lead and the World Bank, will provide support to the country for the development project.
Rwanda is also serving a critical leading role in the CIF by acting as a pace setter for the integration of different paths to climate sustainability with CIF support.