Press and News Partnerships for scaling climate-smart investment: Rwanda Green Fund & ImpactSF
Rwanda Green Fund & ImpactSF partnership is de-risking climate-smart agribusiness investment in Rwanda to boost farmer resilience and unlock capital for climate-vulnerable smallholder agriculture.
Despite agriculture being the backbone of Rwanda’s economy and a source of livelihood for millions, smallholder farmers remain increasingly exposed to climate variability, from prolonged dry spells and shifting rainfall patterns to emerging pest and disease pressures that disrupt seasonal productivity. These risks not only threaten food security but also undermine investor confidence in financing the sector. Addressing them requires more than isolated interventions; it demands strong, strategic collaboration.
This is exactly what the Rwanda Green Fund (RGF) and CGIAR hub for Sustainable Finance (ImpactSF), have achieved through the Rwanda Adaptation Accelerator and the Agritech4Rwanda Innovation Challenge programs. By combining RGF’s mandate as the country’s climate investment vehicle with ImpactSF’s technical expertise in climate analytics and investment de-risking, the partnership has strengthened Rwanda’s pipeline of climate-smart agribusinesses. As a result, agribusinesses were supported to scale adaptation solutions, funding was channeled to local innovators, and targeted technical assistance was provided to de-risk these investments.
What makes this partnership powerful are the complementary strengths of RGF and ImpactSF but also the tangible outcome: a stronger, de-risked pipeline that gives investors’ confidence, and demonstrates agriculture as a sector where climate-smart solutions can deliver resilience, impact, and returns.
Through this work, RGF has already benefited from a clear pipeline of bankable projects,making their first private sector investments in adaptation projects in the agriculture sector.
A proven collaboration model
For many years, investors viewed agriculture posed a challenge. Despite contributing over a quarter of Rwanda’s GDP, the sector lacked financial products and risk frameworks tailored to the reality of agriculture.
By leveraging ImpactSF’s climate-risk analytics and tools such as the ClimARM investment blueprints, ImpactSF Analyzer, and the Impact quantification and monitoring platform, RGF and partners have new insights with enough detail to prioritize specific value chains and quantify expected returns, expected climate risks, and potential impacts.
“Through Ireme Invest, Rwanda Green Fund is catalyzing agribusinesses that are developing practical solutions for a more climate-resilient Rwanda. Working alongside the Gates Foundation, the Alliance of Bioversity International and CIAT and our financial partners, we are helping these businesses grow, attract investment and expand their impact.” – Teddy Mugabo Mpinganzima, CEO, Rwanda Green Fund
Learning from the partnership
- Pipeline Growth: The Accelerator Program has surfaced a diverse set of agribusinesses (43) ready for investment, spanning irrigation, climate-smart inputs, digital advisory, and post-harvest solutions.
- Risk Reduction: Tailored technical assistance ensures that businesses are not only innovative but also investment-ready, reducing risks for financiers.
- Strategic Alignment: Agriculture’s central role in Rwanda’s economy underscores the importance of integrating climate-smart finance into national investment strategies.
Building on the partnership
With this experience, RGF and ImpactSF are now exploring ways to deepen collaboration, prioritizing three areas.
- Readiness for bankable investment opportunities in climate-smart agriculture, and sustainable landscape management tailored for Development Finance Institutions (DFIs), climate funds, commercial investors, and philanthropic capital.
- Potential partnership with the RGF investment arm anchored in analytical and advisory support provided through RAAP, RGF and ImpactSF are moving toward a more integrated partnership, evolving from project-level support to direct engagement at the investment portfolio level, with ImpactSF supporting pipeline development, investment readiness, and agriculture-sector technical assessment at scale.
- Strengthening investment resilience through blended finance and climate risk transfer to move beyond a pilot application and embed de-risking instruments into the investment process. This could include using concessional capital to improve the risk-return profile of selected transactions, integrating parametric insurance or other climate-risk transfer tools where relevant, and applying climate-risk analysis during investment readiness, due diligence, and portfolio monitoring.
“Working alongside the Rwanda Green Fund has demonstrated how science-based analytics and technical assistance can transform investment in climate-smart agriculture. Together, we are unlocking capital for SMEs that are shaping the future of sustainable finance in Rwanda.” – Ena Derenoncourt, Engagement & Origination Lead, CGIAR Hub for Sustainable Finance (ImpactSF)
With this joint approach, RGF and ImpactSF can support more robust investment structures that protect enterprises from climate shocks, improve repayment and performance outcomes, and crowd in additional capital into Rwanda’s agriculture sector.
The early successes demonstrate tangible results, the Rwanda Green Fund and ImpactSF are committed to shaping the future of climate-smart investment in Rwanda, bringing capital, analytics, and technical expertise together to unlock the full potential of agriculture for resilience and growth.
By aligning science, capital, and innovation, this partnership is turning climate risks into opportunities for resilience and growth.
Impact at a glance
Acceleration programs
SMEs supported
14 funded
Farmers reached
66% women
Jobs supported
58% women
