The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved €173.84 million for the Rwanda Energy Sector Result-Based Financing (RBF II) program to modernize the electricity network, expand access to clean energy, and strengthen institutional capacity.
The Asian Infrastructure Investment Bank will provide an additional €86.92 million, bringing the total program cost to €260.76 million.
The Board approval on July 14 marks the African Development Bank’s second result-based energy sector operation in Rwanda, following a $305 million program approved in September 2018. This indicates Rwanda’s preference for a performance-based financing approach in closing power infrastructure gaps.
The RBF II program is anchored on Rwanda’s Energy Sector Strategic Plan (ESSP II 2024–2029) and aims to improve the quality of life of residents, drive economic growth, and reduce poverty through targeted investments in the energy sector.
Specifically, the program is focused on delivering results in 3 areas: modernizing and extending the electricity network and systems; increasing access to on-grid and off-grid electricity and clean cooking technologies; and strengthening technical and institutional capacity.
It will connect 200,000 households and 850 productive use customers to the national grid, add 50,000 new electricity connections through off-grid solutions, provide clean cooking devices to 100,000 households and 310 public institutions, and install street lighting on 200 km of roads in secondary cities across Rwanda.
The RBF II program is a key deliverable under the Bank’s High-5 priority areas of “Light up and Power Africa” and “Improve the Quality of Life of the People of Africa.” Additionally, it will contribute to delivering on the Mission 300 Initiative of the African Development Bank and the World Bank to connect 300 million Africans to electricity by 2030.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Contact:
Communication and External Relations Department
[email protected]
About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.
For more information: www.AfDB.org