Rwanda has signed a €65 million financing agreement with the European Investment Bank to support a community resilience project in the country’s north-west.
The funding will support the Volcanoes Community Resilience Project, which Rwanda’s finance ministry said would focus on climate resilience, biodiversity protection and improving livelihoods in areas affected by floods, landslides and soil erosion, the EIB announced on Friday.
The project is due to be implemented in eight districts — Gakenke, Burera, Musanze, Nyabihu, Rubavu, Rutsiro, Ngororero and Muhanga — and is expected to benefit more than 2.3 million people, according to the Government of Rwanda.
Planned work includes flood risk reduction infrastructure, watershed restoration, landscape rehabilitation, biodiversity conservation and support for sustainable livelihood opportunities.
Who will run the project
The initiative is being co-ordinated by Rwanda’s Ministry of Environment and will be implemented with several public bodies, including the Rwanda Water Resources Board, Rwanda Meteorology Agency, Rwanda Environment Management Authority and Rwanda Development Board
The financing agreement amounts to about Rwf 109.7 billion.
