President Paul Kagame and Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), held discussions on ongoing partnership on January 25 at Village Urugwiro.
Georgieva is in Rwanda on a three-day working visit ending January 26, which seeks to deepen climate financing schemes for developing countries in the region and explain the operational context of the IMF's new Resilience and Sustainability Trust (RST).
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Georgieva commended Rwanda's commitment to fighting climate change and being the first African country to access the IMF's financing facility to build resilience to climate change.
Through the facility that aims at providing long-term low-cost financing to developing countries, Rwanda secured $319 million to support climate change initiatives.
In a tweet, Kagame thanked Georgieva for her visit and for the innovative IMF's RST, saying "it is productive and will play a key role in scaling up the work of Rwanda and developing countries towards a sustainable and green economy in our transformational journey."
On January 25, she participated in a roundtable discussion with East African finance ministers and Central Bank governors, where they informed her that the process involved in acquiring climate financing under the RST is still burdensome.
She is also expected to engage with Rwandan green entrepreneurs and youth environmentalists on her third day of the visit.