EU envoy to Rwanda Belén Calvo Uyarra (L), Finance Minister Yusuf Murangwa (C) and European Investment Bank Official
KIGALI — Rwanda has secured €65 million (about Rwf109.7 billion) from the European Investment Bank (EIB) to strengthen climate resilience and protect communities in the Volcanoes region from floods, landslides and soil erosion.
The financing agreement was signed on Wednesday by the Ministry of Finance and Economic Planning (MINECOFIN) and the EIB. The money will fund the Volcanoes Community Resilience Project (VCRP).
The project targets Burera, Gakenke, Musanze, Nyabihu, Ngororero, Rubavu, Rutsiro and Muhanga districts, which are among Rwanda’s most vulnerable to climate-related disasters.
The scale of the challenge is significant.
According to project documents, the eight districts recorded 539 deaths and 316 serious injuries from climate-related disasters between 2013 and mid-2023.
During the same period, 18,415 homes were damaged, 7,740 hectares of crops were destroyed, nearly 2,000 livestock were lost, and 345 roads and related infrastructure were damaged.
The World Bank estimates that flooding causes about US$10.1 million in damage every year in the Volcanoes region alone.
Nationwide, soil erosion costs Rwanda around US$76 million annually through the loss of about six million tonnes of soil and crops.
The new project is expected to benefit more than 2.3 million people living in the eight districts.
It will finance flood protection infrastructure, watershed restoration, landscape rehabilitation and erosion control. It will also support biodiversity conservation and create sustainable livelihood opportunities for local communities.
The project will be coordinated by the Ministry of Environment. It will be implemented with the Rwanda Water Resources Board, Rwanda Meteorology Agency, Rwanda Environment Management Authority and Rwanda Development Board.
The agreement marks another step in Rwanda’s partnership with the European Investment Bank to support climate action, environmental protection and resilient infrastructure as the country works to reduce the growing impact of climate change.
