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Rwanda Climate Finance Partnership Powers Innovative Climate Action

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3 years ago

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Climate Finance

The Rwanda Climate Finance Partnership aims to facilitate public-private partnerships to scale-up climate finance and has been made possible by the country’s Resilience and Sustainability Facility (RSF) arrangement with the International Monetary Fund

DUBAI, United Arab Emirates, December 4, 2023/APO Group/ — 

The Rwanda Climate Finance Partnership, which was launched at the Paris Summit for a New Global Financing Pact, will further power innovative climate action thanks to additional contributions from the Government of Rwanda. The partnership is supported by Agence Française de Développement (AFD), the European Union and Team Europe, the European Investment Bank (EIB) (EIB.org), the International Finance Corporation (IFC), German Cooperation via KfW Development Bank, and the Italian Cooperation system with the support of Cassa Depositi e Prestiti (CDP); and it complements existing partnerships, including the Rwandan-German Climate and Development Partnership and ongoing initiatives with the World Bank. The formal announcement was made on the sidelines of the COP28 UN Climate Change Conference in Dubai, UAE. 

The Rwanda Climate Finance Partnership aims to facilitate public-private partnerships to scale-up climate finance and has been made possible by the country’s Resilience and Sustainability Facility (RSF) arrangement (https://apo-opa.co/4a1TvoD) with the International Monetary Fund. It is expected that the IMF will disburse an additional USD 48.5 million in budget support following the approval of Rwanda’s second review of the RSF arrangement by the IMF Executive Board in mid-December. To further demonstrate commitment to its RSF-supported climate agenda, the Government of Rwanda also announced two additional reform measures supported by the RSF, related to: (i) enhanced risk analysis of State-Owned Enterprises and Public-Private Partnerships that are vulnerable to climate change, and (ii) adopting a green taxonomy adapted to Rwanda’s NDC climate action plan.

The following partnership milestones were also shared at the COP28 side event today: The Government of Rwanda, through the Ministry of Finance and Economic Planning, will contribute USD 40 million to support Ireme Invest, the country’s private sector green investment facility.

The EIB and the Development Bank of Rwanda have signed a EUR 20 million loan and a technical assistance agreement to support Rwanda’s green transition through Ireme Invest

  • The EIB and the Development Bank of Rwanda have signed a EUR 20 million loan and a technical assistance agreement to support Rwanda’s green transition through Ireme Invest. The loan is the first tranche of an expected EUR 100 million financing package announced at the Paris Summit. The technical assistance will be provided under the EIB Greening Financial Systems programme, supporting the NDC Partnership and backed by the International Climate Initiative Fund and German Federal Ministry of Economic Affairs and Climate Action. At COP28 the EIB is also outlining a new EUR 100 million agricultural climate finance partnership with Bank of Kigali to support smallholders and agri-business across Rwanda impacted by climate change.
  • AFD and Rwanda Development Bank have signed a EUR 20 million credit facility and a EUR 1 million technical assistance grant to scale up Ireme Invest. The first investments under the facility have already been undertaken in several sectors: green buildings and renewable energy. AFD has also signed a budget support of EUR 50 million and EUR 3 million technical assistance grant, announced at the Paris Summit, to advance green public financial management in Rwanda. AFD signed a memorandum of understanding with Bank of Kigali, whereby they agree to strengthen their cooperation in the area of climate finance and working on a climate line of credit of EUR 20 million with a technical assistance grant of EUR 1 million.
  • The Danish International Development Agency and the Rwanda Green Fund have signed a grant agreement of USD 5.27 million to support the Project Preparation Facility of Ireme Invest, which is powered by the Rwanda Green Fund.
  • CDP, Italy’s Financial Institution for International Development Cooperation, is advancing its partnership with the Government of Rwanda to provide financial support to green transition in the country, in the context of an overall strategy to scale up financial flows towards sustainable development and to counter climate change in Africa.

The Rwanda Climate Finance Partnership is a key pillar of Rwanda’s efforts to fund its ambitious NDC Climate Action Plan, and complements a number of existing public and private sector focused initiatives to enable Rwanda to respond to climate change:

  • Programmatic approach for Rwanda’s NDC investments: Three programmatic investment plans on: (i) Climate-Smart Agriculture (CSA), (ii) Sustainable Urbanization, with lead support of German Technical Cooperation (GIZ), and (iii) Sustainable Landscape Management (SLM), with the support from the World Bank, are currently under preparation. Additionally, the IFC will support the Government of Rwanda through the Rwanda Green Fund, to develop long-term investment plans for climate smart agriculture and sustainable urbanization, specifically focusing on increasing the role of the private sector in greening Rwanda’s economy.
  • Green Taxonomy: The Government of Rwanda announced the first phase of its green taxonomy to help catalyze private financing to green projects. Once finalized, the taxonomy will provide clear signals on which projects and activities are aligned with Rwanda’s climate goals. It will help direct private financial flows to the financing of those activities. The initiative is supported by Germany through GIZ, and it is strongly interlinked with Ireme Invest and the Boosting Green Finance, Investment and Trade (GreenFIT) partnership with the World Bank.
  • Rwanda’s NDC Facility, known as Intego, has developed a rich and promising pipeline of public climate adaptation and mitigation projects since its launch at COP27. The facility was capitalized by Germany through KfW with seed funding of EUR 46 million as part of the EUR 222 million Rwandan-German Climate and Development Partnership. The first call for proposals shows that financing needs and availability of project concepts go far beyond the seed funding and the Government of Rwanda is inviting development partners to join the initiative. Intego shall become a best practice example on how to facilitate access to public finance and to pool funding from various sources for climate projects.
  • Boosting Green Finance, Investment and Trade (GreenFIT): The World Bank has also partnered with the Government of Rwanda in the design of a new development policy operation (DPO) that encompasses a set of reforms to increase private sector participation in the Rwandan economy and improve resource mobilisation for climate resilience, with a value of USD 250 million over two years. Germany through KfW Development Bank has joined this effort and contributed not only to the provision of hands-on Technical Assistance for the design and implementation of the DPO’s actions, and is considering a financial contribution to the overall funding of the operation for the second year of the DPO.
  • The EU, as part of the Global Gateway initiative, is also providing budget support for an overall amount of EUR 59 million in grants, including EUR 6.5 million technical assistance, in support of Rwanda’s NDC targets with a specific focus on adaptation in agriculture, in addition to backing the EUR 20 million EIB financing to the Rwanda Development Bank and the Bank of Kigali EIB loan.
  • Finally, the Development Bank of Rwanda recently closed a RWF 30 billion (USD 24.8 million) sustainability-linked bond issuance, which was partially credit-enhanced via a World Bank lending operation, representing the first such issuance by a national development bank in the world.

The Rwanda Climate Finance Partnership, Rwandan-German Climate and Development Partnership, and ongoing initiatives with the World Bank and other partners, such as the United Kingdom, Denmark, and Sweden, demonstrate the power of collaboration 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.

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

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Energy

Cornerstone Valve Joins Angola Oil & Gas (AOG) 2026 as Associate Sponsor Amid Angola’s Upstream Expansion

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23 minutes ago

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July 2, 2026

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Cornerstone Valve

As Angola accelerates upstream, LNG and refining projects, demand is rising for critical flow control solutions that improve reliability, safety and operational efficiency across the energy value chain

LUANDA, Angola, July 1, 2026/APO Group/ –As Angola advances a new phase of oil and gas growth, demand is increasing for the infrastructure and equipment that keep large-scale hydrocarbon projects operating safely and efficiently. From upstream production and gas processing to refining and storage, flow control systems play a central role in maintaining operational integrity, minimizing downtime and supporting long-term asset performance. In this environment, specialized engineering companies such as Cornerstone Valve are becoming increasingly important partners in Angola’s expanding oil and gas market.

Cornerstone Valve has joined the Angola Oil & Gas (AOG) Conference & Exhibition 2026 as an Associate Sponsor, reinforcing its commitment to supporting Angola’s fast-growing oil and gas sector. The event takes place on September 9–10 in Luanda, with a pre-conference day scheduled for September 8, bringing together regulators, operators, service providers and investors to drive partnerships and investment across the industry.

Cornerstone Valve specializes in valve automation, actuation and flow control solutions, providing products and services that support complex industrial operations across the oil and gas value chain. The company’s portfolio includes automated valve packages, control systems and engineered solutions designed to enhance safety, improve system efficiency and optimize asset reliability in demanding operating environments.

The company’s participation at AOG 2026 comes at a pivotal time for Angola’s oil and gas sector. The country is pursuing an ambitious strategy to sustain crude production above one million barrels per day while expanding natural gas monetization and downstream capacity. Major upstream developments, including deepwater projects, brownfield optimization campaigns and frontier exploration, are creating new opportunities for technology providers capable of supporting high-performance operations.

As Angola’s premier oil and gas event, AOG 2026 serves as a strategic platform for companies to engage with decision-makers, showcase solutions and strengthen commercial partnerships. Cornerstone Valve’s sponsorship underscores the growing role of engineering and technology providers in supporting Angola’s next phase of oil and gas development.

Distributed by APO Group on behalf of Energy Capital & Power.

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Business

ICIEC Highlights De-Risking as a Driver of Regional Trade and Investment at Islamic Development Bank (IsDB) Group Private Sector Forum 2026

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25 minutes ago

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July 2, 2026

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ICIEC

Held at the Baku Convention Center, the session brought together senior representatives from Azerbaijani public and private sector stakeholders, export credit agencies, multilateral development banks, commercial banks, insurers, investors, government entities, State-Owned Enterprises, and business leaders

BAKU, Azerbaijan, July 1, 2026/APO Group/ —

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (www.ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, convened a high-level panel discussion titled “De-Risking Trade & Investment for Regional Prosperity” on the sidelines of the IsDB Group Private Sector Forum 2026 in Baku.

 

Held at the Baku Convention Center, the session brought together senior representatives from Azerbaijani public and private sector stakeholders, export credit agencies, multilateral development banks, commercial banks, insurers, investors, government entities, State-Owned Enterprises, and business leaders.

ICIEC’s Shariah-compliant solutions help governments, financial institutions, and investors move from ambition to implementation and execution

The discussion focused on how risk mitigation can unlock private capital, strengthen investor confidence, and support regional integration across Azerbaijan, ICIEC Member States, and the broader OIC region, in alignment with the Annual Meetings theme, “Regional Integration for Sustainable Prosperity”. Convened in Baku, the session explored how political risk insurance, trade credit insurance, and credit enhancement solutions can help transform opportunities in infrastructure, energy, logistics, ICT, manufacturing, and trade into bankable projects, while supporting Azerbaijan’s expanding role as a regional gateway for investment, connectivity, export-oriented growth, and wider OIC market integration.

The event featured keynote remarks by Mr. Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO), who highlighted Azerbaijan’s growing role as a regional hub for trade, investment, and connectivity.

The panel featured Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC; Mr. Yuichiro Akita, President of the Berne Union; Mr. Sujithav Sarangi, Executive Director, Development and Agency Finance Team, Standard Chartered; and Mr. John Lentaigne, Global Head of Structured Credit and Political Risks, Specialist Risk Group. The discussion was moderated by Mr. Elnur Aliyev, Advisor to the Chairman, KOBIA Azerbaijan.

Speaking during the session, Dr. Khalid Khalafalla said: “Regional prosperity can only deliver its full development impact when trade and investment opportunities are supported by confidence, bankability, and effective risk mitigants. ICIEC’s Shariah-compliant solutions help governments, financial institutions, and investors move from ambition to implementation and execution. Through strong partnerships with public and private sector institutions, ICIEC is helping mobilise capital for strategic sectors, reduce perceived and actual risks, and support sustainable growth across Member States and beyond.”

The discussion underscored that Regional Prosperity requires more than connectivity and project pipelines. It requires a coordinated ecosystem in which governments, financial institutions, insurers, investors, and development partners work together to manage risk, mobilise finance, and deliver tangible development outcomes. The session reinforced ICIEC’s role as a catalyst for trade, investment, and sustainable development through Shariah-compliant risk mitigation solutions, partnership-building, and support for investment-ready projects across Member States.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

 

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Events

The 6th Cross-Strait Sun Yat-sen Forum Successfully Held in Zhongshan, Guangdong

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17 hours ago

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July 1, 2026

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Sun Yat-sen Forum

ZHONGSHAN, CHINA – Media OutReach Newswire – 1 July 2026 – As 2026 marks the 160th anniversary of the birth of Dr. Sun Yat-sen, the 6th Cross-Strait Sun Yat-sen Forum was held in Zhongshan, Guangdong Province—the hometown of the great pioneer—from June 27 to 29 under the theme “Carrying Forward Dr. Sun Yat-sen’s Spirit of Endeavor and Working Together for the Great Rejuvenation of the Chinese Nation”. This year’s forum was the largest in its history, attracting the broadest participation from Taiwan compatriots and the highest proportion of young participants to date. Around 2,000 representatives from across the Chinese mainland, Taiwan, Hong Kong, and Macao attended the event. Centered on cultural heritage and driven by economic and trade cooperation, the forum established a multi-level platform for cross-strait exchanges and collaboration while fostering broader consensus on integrated cross-strait development.

Distinguished guests from both sides of the Taiwan Strait attended the opening ceremony and noted in their remarks that Dr. Sun Yat-sen is a revered national pioneer shared by compatriots on both sides of the Strait. His vision of rejuvenating China remains a common spiritual legacy, and people across the Strait should carry forward his ideals and work hand in hand toward national rejuvenation. During the opening ceremony, Zhongshan Municipal People’s Government and the Association of Taiwan Investment Enterprises on the Mainland signed the Strategic Framework Agreement on Deepening Zhongshan-Taiwan Economic and Trade Cooperation to Promote Integrated Development, laying a solid institutional foundation for long-term industrial cooperation across the Strait.

A series of cultural exchange activities also took place throughout the forum. Participants enjoyed an evening tour of the century-old Sunwen West Road Arcade Pedestrian Street, immersing themselves in Zhongshan’s rich historical heritage and the vibrant cultural and tourism scene of the Guangdong-Hong Kong-Macao Greater Bay Area. They also visited the Museum of Dr. Sun Yat-sen, where they studied revolutionary historical archives, bowed before Dr. Sun’s bronze statue to pay homage, and gained a deeper appreciation of his enduring ideals of “All Under Heaven Belong to the People” and “Revitalize China”. Many participants remarked that these activities provided an excellent platform for sustained exchanges among young people across the Strait and that their shared cultural roots and common heritage form a solid foundation for advancing cross-strait spiritual integration.

To further strengthen cross-strait economic cooperation and advance industrial integration between Shenzhen and Zhongshan, the forum also featured the “Taiwan Businesses Gather in Zhongshan, Industries Glow in the Greater Bay Area” 2026 Guangdong-Taiwan Economic and Trade Exchange Conference and Investment Promotion Event Celebrating the Second Anniversary of the Shenzhen-Zhongshan Link. A total of 19 industrial projects were signed during the event. The first group comprised seven Taiwan-invested projects spanning semiconductor supporting industries, electronic components, smart home products, high-end fitness equipment, and medical devices. The second and third groups included 12 Shenzhen-Zhongshan collaborative projects covering new energy vehicle components, industrial robotics, memory chip packaging, advanced specialty materials, and integrated cultural, tourism, and commercial developments.

During the investment promotion event, Taiwan business representatives spoke highly of Zhongshan’s business environment. Zhang Congyuan, Chairman of Huali Industrial Group, which has operated in Zhongshan for more than two decades, praised the city’s enterprise service philosophy of “staying out of businesses’ way when everything runs smoothly while providing prompt support whenever needed”. He noted that this business-friendly environment has helped the company grow into one of the world’s leading manufacturers of athletic footwear.

Guo Wenhai, secretary of the CPC Zhongshan Municipal Committee, extended a sincere invitation to Taiwan businesses and entrepreneurs to invest and establish operations in Zhongshan. He emphasized that the city offers not only strong industrial infrastructure but also high-quality government services. Zhongshan will continue to provide proactive, efficient, and dedicated support for businesses while continuously improving both its hard and soft investment environment. Leveraging the opportunities created by the Shenzhen-Zhongshan Link, the city aims to create broader prospects for cooperation and shared growth for enterprises from both sides of the Taiwan Strait.

Participants and Taiwan business representatives agreed that, taking the 160th anniversary of Dr. Sun Yat-sen’s birth as an important milestone, this year’s forum created new channels for both cultural exchanges and industrial cooperation across the Strait. Looking ahead, Zhongshan will continue to organize regular initiatives, including entrepreneurship support programs for young people from Taiwan, youth exchange activities, and Guangdong-Taiwan industrial matchmaking events. By carrying forward Dr. Sun Yat-sen’s spirit, embracing the opportunities of the Greater Bay Area, and strengthening both economic cooperation and people-to-people ties, the city will continue to contribute to a new chapter of integrated cross-strait development.

 

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