Rwandan minister calls for climate finance reform at Africa summit| The New Times

Rwanda has called for urgent reforms to the global climate finance system to ensure African countries get access to adequate resources without worsening their debt burden. ALSO READ: Kagame calls for sufficient climate finance for Africa Speaking at the Africa Climate Summit in Ethiopia on September 8, the Minister of Environment, Bernadette Arakwiye, stressed that ambition on climate action is being held back by limited financing and shifting access requirements. “The global climate finance system too often shifts benchmarks and access requirements, leaving those on the front lines struggling to secure the support they need,” Arakwiye said. “This undermines trust and takes us farther from our shared climate goals.” She highlighted that Africa, which contributes less than 4 percent of global emissions, is forced to spend more than 5 percent of its GDP responding to climate shocks, often at the cost of rising debt. Inside Rwanda's plan to fix $6bn climate finance gap Arakwiye said Rwanda is already moving forward with its own solutions, citing initiatives such as the Rwanda Green Fund, Ireme Invest, and the Rwanda Green Taxonomy, which aim to mobilise climate capital and align with the country’s Vision 2050 for a carbon-neutral economy. “No country can close the gap alone,” she said, urging for stronger international commitments and partnerships to support adaptation, resilience, and sustainable development. ALSO READ: Ireme Invest secures over $42 million to support green projects Arakwiye called for a greater focus on grants rather than loans in climate finance, warning that debt-creating instruments risk worsening the financial situation of African nations. The minister said the Africa Climate Summit, which ends on Wednesday, could be remembered as “the moment Africa moved beyond words to action,” and when ambition was finally matched with the resources needed to deliver climate solutions for the continent and the world.