What is FONERWA and how will it work?
What is FONERWA and how will it work?
What is FONERWA and how will it work?
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<strong>What</strong> <strong>is</strong><strong>FONERWA</strong>?The Government of Rw<strong>and</strong>a (GoR) <strong>is</strong> in the process of final<strong>is</strong>ing theestabl<strong>is</strong>hment of the Environment <strong>and</strong> Climate Change Fund – <strong>FONERWA</strong> –as a cross sectoral financing mechan<strong>is</strong>m to achieve development objectivesof environmentally sustainable, climate resilient <strong>and</strong> green economicgrowth. The establ<strong>is</strong>hment of <strong>FONERWA</strong> demonstrates Rw<strong>and</strong>a’s continuedcomm<strong>it</strong>ment to sustainable development <strong>and</strong> a green economy.<strong>FONERWA</strong> 1 <strong>is</strong> the vehicle in Rw<strong>and</strong>a through which environment <strong>and</strong> climatechange finance <strong>is</strong> channelled, programmed, d<strong>is</strong>bursed <strong>and</strong> mon<strong>it</strong>ored. As anational Basket Fund, <strong>FONERWA</strong> <strong>is</strong> an instrument to facil<strong>it</strong>ate direct accessto international environment <strong>and</strong> climate finance, as well as to streamline<strong>and</strong> rational<strong>is</strong>e external aid <strong>and</strong> domestic finance. Access to the Fund <strong>is</strong>open to line min<strong>is</strong>tries <strong>and</strong> d<strong>is</strong>tricts, char<strong>it</strong>able <strong>and</strong> private ent<strong>it</strong>ies, includingbusinesses, civil society <strong>and</strong> research inst<strong>it</strong>utions.1 The French acronym, <strong>FONERWA</strong>, was coined in 2005 under Organic Law no.4/2005 <strong>and</strong> means fundfor environment <strong>and</strong> natural resources for Rw<strong>and</strong>a. Through the <strong>FONERWA</strong> Law, <strong>it</strong> has taken on theadd<strong>it</strong>ional meaning of environment <strong>and</strong> climate change fund for Rw<strong>and</strong>a.
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