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Rwanda, Team Europe and partners pioneer an additional EUR 300 million financing to crowd in private investment and build climate resilience

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The ground-breaking partnership is part of ongoing efforts by the international community to reshape the global climate finance architecture

PARIS, France, June 23, 2023/APO Group/ — 

Building on the Resilience and Sustainability Facility with the International Monetary Fund, the Government of Rwanda, together with the Agence Française de Développement (AFD), European Investment Bank (EIB) (www.EIB.org), Cassa Depositi e Prestiti (CDP), and the International Finance Corporation (IFC), are announcing a cooperative approach to facilitate public-private partnership, scale-up climate finance and crowd in private climate investment that will mobilise an additional EUR 300 million to build climate resilience in Rwanda.

The new support complements and builds on the USD 319 million in financing accessed by the Government of Rwanda through the Resilience and Sustainability Facility (RSF) arrangement with the International Monetary Fund (IMF).

The ground-breaking partnership, which was unveiled at the Paris Summit for a New Global Financing Pact, is part of ongoing efforts by the international community to reshape the global climate finance architecture, including by moving beyond small-scale projects to significant long-term investments that leverage existing mechanisms to facilitate public-private partnerships and attract private sector investments.

Importantly, this collaborative support will bolster Rwanda’s efforts to address the impact of climate change on vulnerable communities and strengthen the catalysing effect of the IMF’s RSF arrangement by attracting additional budget support from partners, initiate a programmatic approach for climate investments, and scale up Ireme Invest – Rwanda’s unique and innovative investment facility dedicated to private sector green investment – that was launched by His Excellency President Paul Kagame in November 2022 at the UN Climate Change Conference (COP27) in Egypt.

A three-pronged approach

International partners will support Rwanda’s efforts to accelerate climate investments through action across three pillars:

  1. Policy reforms to address challenges triggered by climate change
  2. Capacity development initiatives, and
  3. Financing arrangements

Actions in these three areas are expected to strengthen and institutionalise the monitoring and reporting of climate-related spending, integrate climate risks into fiscal planning, improve the sensitivity of public investment management to climate-related issues, strengthen climate-related risk management for financial institutions, and fortify disaster risk reduction and management.

Partners have also committed to support Rwanda’s capacity development initiatives, and help attract and better manage further climate capital. As part of the collaborative approach, partners have committed to consolidate and mobilise the following climate finance resources for Rwanda:

Programmatic budget support for green public financial management

AFD is providing EUR 50 million programmatic budget support accompanied by a EUR 3 million technical assistance grant, with an initial disbursement expected in 2023. This financial contribution will be complementary and additional to the RSF-supported programme’s matrix of reforms, the greening of public investments and procurement as well as strengthening Rwanda’s Measurement, Reporting, and Verification (MRV) framework. The technical assistance will also support the implementation of Rwanda’s sustainable finance roadmap with a view to increase private sector mobilisation in support of climate action.

A new programmatic approach for Nationally Determined Contributions (NDC) investment

With its innovative lens, this partnership will maximise limited public finance to channel private capital into climate-related projects

The International Finance Corporation, in partnership with the Government of Rwanda through the Rwanda Green Fund (FONERWA), will jointly develop long-term investment plans for climate smart agriculture and sustainable urbanisation to increase the role of the private sector in greening Rwanda’s economy.

Scaling up Ireme Invest for private sector investment

Launched at COP27, Ireme Invest is a green investment facility powered by the Rwanda Green Fund (FONERWA) and the Development Bank of Rwanda (BRD), and developed through technical assistance from the World Bank. BRD is currently finalising the identification of a pipeline of private sector projects estimated at EUR 400 million based on a common set of eligibility criteria, governance, and reporting mechanism with its financing contributors for Ireme Invest.

  • The Government of Rwanda will support scaling up of access to green finance for the private sector to further enable BRD to grow its lending portfolio for the private sector at affordable interest rates.
  • The European Investment Bank is expected to provide EUR 100 million supported by the European Union. This support is provided under the Global Gateway strategy: the EU’s positive offer to deliver sustainable and trusted connections with partner countries and build more resilient societies for people and planet.
  • Cassa Depositi e Prestiti – the Italian Development Finance Institution – is discussing with the Government of Rwanda and BRD joint actions to scale up climate finance bridging public and private investments.

To further underpin the creation of private green assets in Rwanda, Ireme Invest private stakeholders will also directly contribute EUR 130 million equivalent in own private equity. The creation of new green private assets also opens the door for future issuances of innovative debt instruments on the local and international markets which will further crowd in private investment.

The coordinated initiative to scale up climate financing, combined with the policy reforms envisaged under the IMF’s RSF arrangement and capacity development support from the IMF will allow Rwanda to better withstand economic shocks and adapt to a changing climate. This unique collaboration between the Government of Rwanda and international partners exemplifies the power of partnerships in tackling pressing global challenges. It sets a precedent for other nations and financial institutions to explore innovative financing mechanisms and join forces in the pursuit of a sustainable and climate-resilient world.

It also adds to the substantial financial and technical support provided by the World Bank (IDA) to support Rwanda’s efforts to enhance its climate resilience and secure its natural assets – especially in vulnerable communities – unlock private investments and promote green finance and trade, as well as financial contributions by the Governments of Germany, the United Kingdom, Sweden and Denmark towards Rwanda’s NDC climate action plan objectives.

Quotes

“The partnership we have announced represents a transformational shift in the provision of climate finance and is a vote of confidence in Rwanda’s long-term climate action strategy. This is an important milestone in our journey to achieve our Nationally Determined Contributions that are estimated at USD 11 billion by 2030. We thank all the partners that have joined this initiative and we will be working together to make it a reality.” – The Right Honourable Prime Minister of Rwanda, Dr. Edouard Ngirente.

“The announcement is a testament of Rwanda’s commitment to sustainability, which has been widely recognised and applauded on the global stage. It also shows how close collaboration among international and domestic partners in the context of strong climate reforms under the RST can amplify climate financing, providing a model for accelerating investment to deliver a greener and more prosperous future around the world.” – Kristalina Georgieva, Managing Director of the International Monetary Fund.

“The agreement with Rwanda illustrates how joining forces in international partnerships is the only way forward in addressing the climate crisis. The European Union and its Member States are the world’s largest provider of public climate finance, and we remain committed to a multilateral approach. Through Global Gateway and together with our allies, we strive to bridge the investment gap and support partner countries, in particular in Africa, to mitigate and adapt to climate change. Our ambition is a green transition that is fair to the most vulnerable.” – Jutta Urpilainen, European Commissioner for International Partnerships.

“The close cooperation between the Government of Rwanda, IMF, international financing partners and the EIB is harnessing the potential of Special Drawing Rights to advance climate action. The strategic use of SDRs will significantly amplify the impact of climate action investments in the country, paving the way for a greener and more prosperous future. This initiative represents the EIB’s strong commitment to combating climate change and supporting sustainable development in Rwanda and beyond.” – Werner Hoyer, President of the European Investment Bank.

“With its innovative lens, this partnership will maximise limited public finance to channel private capital into climate-related projects. IFC will work with the government of Rwanda to develop an investment pipeline to build a resilient, low-carbon economy among the most vulnerable communities, with a focus on sustainable cities and climate-smart agriculture.” – Makhtar Diop, IFC Managing Director.

“In very few years, AFD and actors of the Rwandan financial ecosystem have engaged in a solid cooperation on climate finance on the country’s vision to align its public and private investment flows with its ambitious climate change strategy.” – Remy Rioux, Director General Agence Française de Développement.

Distributed by APO Group on behalf of European Investment Bank (EIB).

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Dangote Calls on Africa to Keep its Capital at Home as Industrialization Takes Center Stage at Unstoppable Africa

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1 hour ago

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September 22, 2026

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Africa

African business leaders call for a bigger share of the continent’s growth, with investment and local value creation high on the agenda

NEW YORK, United States of America, September 22, 2026/APO Group/ –Africa must stop sending its capital abroad and start investing in its own industrial future, Aliko Dangote, President and CEO of Dangote Group, told global business leaders at Unstoppable Africa 2026 today, as he set out an ambitious vision for African industrialization backed by billions of dollars in investment, new refining capacity, and broader public ownership.

 




  

Pointing to Asia’s economic rise, he argued that Africa cannot build comparable industrial strength while its own money continues to flow into foreign banks and markets. Emphasizing the importance of the African Continental Free Trade Area (AfCFTA) in creating the scale required for major industrial projects, he noted, “We must believe in our continent,” urging businesses to stay focused despite the challenges involved in building major organizations in Africa. “Once you start, it gets easier. But the more you don’t do anything, it becomes difficult.”

With more than 3,000 African and global business leaders and heads of state gathered for the two-day forum in New York, Unstoppable Africa 2026 demonstrated the scale of global interest in Africa’s economic opportunities and the appetite for stronger commercial partnerships with the continent.

Another notable highlight was the South African Business Initiative for Impact (SABII), which brought South Africa’s business, investment, and partnership proposition into sharper focus. Discussions explored how local opportunities can connect with global capital and translate into tangible economic impact.

Eine Zeidane, Director of the African Department at the International Monetary Fund, highlighted the importance of structural reforms, stronger domestic financial markets, and wider African markets through AfCFTA in attracting private investment.

The discussions also turned to the continent’s rapidly expanding digital economy. Olugbenga Agboola, CEO of Flutterwave, highlighted the opportunity presented by Africa’s young and increasingly connected population, pointing to digital payments, AI, and other technologies that can help businesses access markets and grow.

We must believe in our continent

Elly Savatia, Founder and CEO of Signverse, highlighted technology’s potential to expand inclusion through African sign languages. With U$2 million in Google funding, Signverse has developed the largest publicly documented dataset for an African sign language to date and is building a framework that can expand to multiple local sign languages.

In the sporting arena, H.E. Ndemupelila Netumbo Nandi-Ndaitwah, President of Namibia, signed a partnership agreement between the Netumbo Nandi-Ndaitwah Foundation (NNN Foundation) and the Queens of the Continent Foundation (QoTC), founded by two-time WNBA All-Star and ESPN host Chiney Ogwumike. The landmark partnership will explore opportunities to support the empowerment and development of young people in Namibia, with a particular focus on girls and young women.

African creative industries take their place on the global stage

The creative economy was another major focus, with speakers highlighting the growing ability of African brands, filmmakers, and technology innovators to build global audiences and markets.

Khanyi Mashimbiye, Manager, Creatives at Afreximbank, highlighted the Afreximbank CANEX program, which connects African fashion brands with international buyers through Tranoï in Paris and Japan and Coterie in New York. Since 2022, the initiative has secured more than 120 offtake agreements, with Zimbabwean brand Vanu Vanwerk now selling in more than 50 stores globally.

Closing the forum, UN Deputy Secretary-General, Amina J. Mohammed said, “We are entering a new age of technology and AI that will fundamentally shape the future, and Africa has a tremendous opportunity to leapfrog. Just as industrialisation transformed economies and created new forms of work, AI can open new pathways for growth, innovation and opportunity. Africa has the talent and the ideas. What we need is the opportunity, infrastructure and investment to deploy them at scale. This is a moment for Africa to shape its own AI story, combining the continent’s talent with the technology and infrastructure needed to build the future.”

As the conversations concluded, the focus turned to the practical work ahead: translating Africa’s investment momentum into initiatives that can deliver growth, jobs, and lasting economic value.

For event photos, visit HERE (https://apo-opa.co/3TJQpSP). For speakers’ video soundbites and highlights, visit HERE (https://apo-opa.co/477SpHE). The entire event can be viewed on Unstoppable Africa YouTube channel (https://apo-opa.co/4xE0FKs).

For more about GABI please visit the website GABI.UNGlobalCompact.org

Distributed by APO Group on behalf of Global Africa Business Initiative.

 

 




 

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Frasers Hospitality unveils Fraser Suites Reserve, a new luxury serviced living brand

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2 hours ago

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September 22, 2026

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Fraser Suites

Fraser Suites Reserve Bangkok starts welcoming guests at One Bangkok in December 2026
SINGAPORE – Media OutReach Newswire – 22 September 2026 – Frasers Hospitality, a business unit of Frasers Property, today announced Fraser Suites Reserve, a new luxury serviced living brand created for discerning global travellers seeking the privacy, ease and familiarity of home while away, complemented by the service and standards of luxury hospitality.

Building on Frasers Hospitality’s longstanding expertise and established track record in extended stays, Fraser Suites Reserve addresses a distinct segment at the luxury end of the market. Its introduction further sharpens the company’s portfolio of clearly differentiated brands.

 




 
 

“Fraser Suites Reserve represents the next strategic step in strengthening our portfolio,” said Eu Chin Fen, Chief Executive Officer, Frasers Hospitality. “It draws on our experience in long stays, while responding to the evolving expectations of an increasingly sophisticated segment of travellers accustomed to the world’s finest hospitality.”

Time for what matters

Fraser Suites Reserve is anchored in the belief that time is the ultimate luxury for today’s global professionals. Each property brings together refined design, intuitive service, curated wellness and lifestyle experiences intended to make life away from home easier, leaving guests free to focus on what matters most, whether their work, wellbeing, relationships or personal pursuits.

Designed as private sanctuaries within the city, its rooms are designed to offer privacy and calm. Many feature integrated kitchenettes, allowing guests to maintain familiar routines of home while away, an independence that becomes particularly valuable during longer stays. The experience is complemented by the discreet yet highly personalised service of luxury hospitality.

Beyond the rooms, guests can enjoy distinctive dining concepts, wellness and leisure experiences on property, as well as Club Frasers, a private lounge designed for conversation, connection and curated experiences.

“For guests accustomed to the highest standards, luxury service gives the assurance that every detail has been carefully thought through and every need understood,” said Chew Hang Song, Chief Operating Officer, Frasers Hospitality. “With Fraser Suites Reserve, this means providing an experience that feels immediately familiar and deeply human, supported by service that is warm and intuitive, yet respectful of their privacy.”

Wellbeing, made part of everyday

Holistic wellbeing is integrated into the Fraser Suites Reserve experience. At Fraser Suites Reserve Bangkok, the House of Rejuvenation will offer a dedicated environment for recovery and renewal, pairing therapist-led treatments with advanced wellness facilities such as thermal pools, cold plunges, compression therapy, dry flotation and red-light therapy.

Guests will also have access to The Wellness Edit, Frasers Hospitality’s proprietary global wellness programme. Through simple, repeatable everyday rituals that can be incorporated naturally into a guest’s stay, the programme is designed to integrate wellbeing with simple gestures, making wellbeing easier to sustain even amid demanding schedules and frequent travel.

Global debut at One Bangkok

Fraser Suites Reserve Bangkok, the brand’s first property, will begin welcoming guests in December 2026 as part of a phased opening. Its grand opening is planned for March 2027 when the complete range of facilities and experiences will be available.

The 255-room property will occupy the top ten floors of a 45-storey premium office and retail tower at One Bangkok, located right in the heart of Bangkok at the intersection of Rama IV Road and Wireless Road, with panoramic views of the Bangkok skyline and Chao Phraya River with easy access to Bangkok’s dining, entertainment and cultural attractions. Further details to be announced in the coming months.

Find out more about Fraser Suites Reserve at frasershospitality.com/en/our-brands/fraser-suites-reserve/

NOTE:
For more information, please visit www.frasershospitality.com.

About Frasers Hospitality
Frasers Hospitality is a leading investor-operator within the lodging sector, backed by 28 years of proven expertise. Frasers Hospitality specialises in optimising and managing hospitality assets to deliver sustainable value for its stakeholders. As a business unit of Frasers Property Limited, its presence spans Asia Pacific, Europe, the Middle East and Africa.

With a diversified portfolio of over 100 lodging assets across geographies and segments, Frasers Hospitality offers a comprehensive end-to-end ecosystem of bespoke lodging expertise and solutions to maximise performance, value and growth for its partners across the real estate value chain. Frasers Hospitality is a trusted expert and preferred partner within the lodging sector with a proven track record and a business model optimised to deliver value.

Frasers Hospitality is distinguished by its style of hospitality from their progressive mindset that fosters innovation and matched with an award-winning brand portfolio tailored to new ways of travelling, living and socialising. Recognised globally for our commitment to hospitality excellence, Frasers Hospitality has earned numerous industry accolades and awards, showcasing its leadership in delivering exemplary, quality services, and curating memorable, life-enriching experiences for its guests and residents – by people, for people.

For more information on Frasers Hospitality, please visit www.frasershospitality.com or follow us on LinkedIn.

About Frasers Property Limited
Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Frasers Property Group” or the “Group”) is an integrated investor-developer-operator of real estate products and services. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and headquartered in Singapore, the Group has total assets of approximately S$40.0 billion as at 31 March 2026.

Frasers Property operates across five asset classes: industrial & logistics, retail, commercial & business parks, residential and hospitality. Its businesses span Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in 20 countries.

The Group is the sponsor of real estate investment trusts (“REITs”), Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust, listed on the SGX-ST, as well as Frasers Property Thailand Industrial Freehold & Leasehold REIT and Golden Ventures Leasehold Real Estate Investment Trust, listed on the Stock Exchange of Thailand.

Guided by its purpose of inspiring experiences and creating places for good, the Group promotes an ESG framework that supports long-term value creation through focus areas such as transparent governance, sustainable finance, inclusive communities and reducing its carbon emissions. Frasers Property aims to deliver lasting shared value for its customers, people, investors and communities, while fostering a progressive, collaborative and respectful culture.

For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.
 




 

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Energy

Building a Knowledge Hub for China-ASEAN Energy Cooperation

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7 hours ago

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September 22, 2026

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ASEAN

NANNING, CHINA – Media OutReach Newswire – 21 September 2026 – During the 23rd China-ASEAN Expo and the China-ASEAN Business and Investment Summit, China Southern Power Grid showcased a range of innovations designed to support energy cooperation between China and ASEAN. These included the DaWatt – Lao Language Large Language Model (LLM) for the Energy and Power Sector V2.0 and the Flexible Grayscale Intelligent Monitoring & Analysis Platform for power system cybersecurity, highlighting expanding opportunities for cooperation in digitalization, intelligent technologies and green energy.

The Lao-language LLM has been deployed at Electricité du Laos Transmission Company Limited (EDL-T), where it can automatically analyze thousands of inspection images within a short period of time. After its algorithms were optimized for Laos’ mountainous and rainforest terrain, the model completed intelligent inspection analysis for four transmission lines, processing 26,000 drone inspection images and identifying more than 3,600 equipment defects.

 




 
 

Liu Ying, general manager of the Digitalization Department at Guangxi Power Grid Co., Ltd., said the company has been building multilingual professional corpora for the power sector, covering ASEAN countries including Laos, Vietnam and Malaysia. Drawing on the capabilities of the DaWatt foundation model, the company is developing energy and power models tailored to ASEAN languages and real-world power industry applications.

Talent development is another focus of the cooperation. The China-ASEAN Institute of Energy, jointly established by Guangxi Power Grid Co., Ltd. and Guangxi University, is exploring an industry-university training model with a strong emphasis on practical experience. So far, two cohorts totaling 53 students from ASEAN countries have enrolled.

Cooperation is also evolving from one-way training toward joint innovation. Guangxi Power Grid Co., Ltd. and the Royal Academy of Cambodia have jointly established a laboratory for artificial intelligence and safety equipment, while the company has also launched peer-to-peer exchanges with Electricité du Laos on improving power supply reliability.

To address language barriers in cross-border technical exchanges, Guangxi Power Grid Co., Ltd. has developed an AI-powered translation platform backed by a specialized database containing terminology for more than 1,800 types of power equipment. The platform supports accurate translation between Chinese and English, Chinese and Lao, and Chinese and Vietnamese.

At a recent training program for Chinese and overseas engineers, the system supported one-click generation of bilingual course materials and real-time speech translation, helping participants navigate highly specialized power-sector terminology.

To support regular international exchanges, Guangxi Power Grid Co., Ltd. has also established an international talent pool covering management, technical and skilled personnel. It has developed 24 hours of courses on international affairs as well as 20 short-form video courses.

“This year, we will also explore joint postgraduate programs with universities in ASEAN countries,” said Sun Xiaohua, deputy director of the Human Resources Department at Guangxi Power Grid Co., Ltd.

Looking ahead, Guangxi Power Grid Co., Ltd. plans to further advance a development model featuring “R&D in Beijing, Shanghai and Guangdong, integration in Guangxi, and application in ASEAN.” The company will continue expanding its multilingual power-sector corpora and explore a “Token Goes Global” model for power-sector AI, with computing resources and models based in Guangxi while knowledge services are delivered overseas. The effort is aimed at creating new forms of China-ASEAN energy cooperation and supporting the green development of the China-ASEAN Free Trade Area 3.0.
 




 

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