Rwanda seeks $12 billion to cut emissions
The country aims to reduce greenhouse gas emissions by 53 per cent by 2035.
A $12 billion climate investment bill, aimed at cutting greenhouse gases by 53 per cent by 2035, is what Rwanda is now asking the world to help finance. Prime Minister Dr Justin Nsengiyumva made the case on Thursday, November 12, at the COP31 climate summit in Antalya, Türkiye, reading the statement on behalf of President Paul Kagame.
The sum equals roughly 65 per cent of the country's projected 2026 GDP of $18.4 billion, and more than twice its entire 2026/27 national budget of Rwf7.8 trillion (about $5.2 billion). Government says 80 per cent of the money depends on international support, so access to climate finance will decide whether the 2035 target is met.
The goal forms part of Rwanda's third Nationally Determined Contribution, its climate action plan under the Paris Agreement. Nsengiyumva urged donors to provide financing that is predictable, easy to access and sufficient for both adaptation and cutting emissions, and said developing countries need better access to capital.
Why it mattersTraders and public services depend on the 80 per cent of the plan that rests on foreign money, so a shortfall there would stall the 2035 target.