Rwanda expects 80% of climate finance from abroad
By the AFREEQUE newsroom, based on Rwanda Dispatch
Rwanda estimates it needs $12 billion to implement its climate plan through 2035, with 80% expected to come from international finance. Prime Minister Justin Nsengiyumva presented the figures at COP31 in Antalya, according to Rwanda Dispatch.
Rwanda estimates that 17.95 trillion Rwandan francs, or about $12 billion, in financing is needed for its climate action through 2035, of which 14.36 trillion will have to come from international support, Prime Minister Justin Nsengiyumva said at COP31 in Antalya, Turkey, on 12 November.
Rwanda’s third nationally determined contribution plan provides for $7.07 billion for climate change adaptation and $4.96 billion for emissions reduction. The aim is to cut greenhouse gas emissions by 53% compared with a business-as-usual scenario, with a 7% reduction financed domestically and 46% conditional on international support, according to the plan submitted in December 2025 under the Paris Agreement.
Justin Nsengiyumva called for projects in developing countries not to be systematically considered riskier than those in rich countries. He called on governments and businesses to make viable projects more attractive in order to broaden access to finance and secure affordable capital without increasing debt to unsustainable levels.
The Prime Minister also called for progress in negotiations on the Global Goal on Adaptation, particularly on indicators for determining the needs of developing countries and financing arrangements. Rwanda plans to use its presidency of the Group of 77 and China in 2027 to strengthen cooperation between developing countries and advance these negotiations.
The announcement comes after the publication, on 12 November, of the Rwanda climate plan costed at $12 billion. It also follows the presentation, on 11 November, of Rwanda’s six climate priorities at COP31.
