The Rwanda Development Bank (BRD) has received a Certificate of Merit at the recently held Karlsruhe Sustainable Finance Awards 2017 organised by the European Organisation for Sustainable Development (EOSD). The bank received the certificate specifically for its contribution to the ‘Bye Bye Agatadowa’ (Bye Bye Kerosene Lamps) program which seeks to promote off-grid, sustainable electrification.
The Karlsruhe Sustainable Finance Awards honour financial institutions and organizations with significant contributions to the field of sustainable finance.
In a message of congratulations, Arshad Rab, the CEO of the EOSD, wrote: “Bye Bye Agatadowa, the BBA program financed by the Development Bank of Rwanda is an excellent initiative to reduce CO2 emissions, create new employment and business opportunities and provide light to millions of Rwandans. I congratulate Mr. Alex Kanyankole, CEO of the Development Bank of Rwanda, and his entire team and staff for their success in this project. It is my hope that this global recognition which they received in Karlsruhe, Germany will give them further strength for creating a prosperous and sustainable Rwanda.”
Kanyankole, expressed his delight with the recognition.
“It shows that the wider stakeholders community recognises the work BRD is doing in financing sustainable energy,” he told Hope Magazine. “It gives us the impetus to do more with communities in Rwanda to provide sustainable energy with sustainable financing. The keyword is sustainable.”
The recognition comes shortly after BRD become the implementing agency for the Renewable Energy Fund (REF), which will make nearly $50 million available for sustainable energy projects.