Launch of Rolling Basis Application for Private Sector
FONERWA in a proactive effort to encourage private sector led initiatives to respond to Environment and Climate Change related challenges facing Rwanda as well as the aspiration to have green growth path to development hereby launches the rolling basis for applications.
This is the product of wide consultations with the private sector. In the new application process, credit line (loan) applicants will be able to enjoy all year round application opportunity with simplified, private sector specific application documents.
The credit line, a subsidized loan facility, provided by the Fund and administered by the Rwanda Development Bank provides funding to transformative projects that will demonstrate clear impact in achieving national and sectoral priorities. They must be backed by a business model with sound underlying fundamentals to manage risk and deliver returns.
The Rolling Basis Application
Applicants will have their proposals received and processed by the Fund on an ongoing basis as and when FONERWA receives them. The applicant is encouraged to submit proposals for funding for green and sustainable businesses primarily aligned to sectors relevant to environment and climate change that include but not limited to Agriculture, Energy, Transport, and integrated water resources management. Summary of Eligibility Criteria
· Innovation/Additionality: Need to focus on new and innovative interventions as well as new ways of thinking and delivering. The proposals place emphasis on additionality with funding clearly aligned to interventions that explicitly target green and climate resilient initiatives that seek to improve performance and sustainability.
· Focus on emerging priorities: The programs/projects must focus on opportunities for implementing the EDPRS II priorities and the Green Growth and Climate Resilience Strategy (GGCRS) programs of action as critical guiding principles.
· Value for Money and Commercial Merit – Projects must demonstrate a capability to generate a return that exceeds the cost of capital and repayment capacity based on the Bank’s assessment. The project benefits should however reward the business and the bank financially for the risks taken and deliver socio-economic and developmental impact to the communities in which the business operates thus increasing the resilience of Rwanda and Rwandans to climate impacts.
· Sustainability: Ensure that targets achieved from the project/programs are long lasting and sustainability measures are in place.
This serves as an invitation to private sector enterprises interested in accessing debt funding to submit Project Profile Documents (PPDs) to implement projects that fulfil the criteria mentioned above.
We encourage applicants to read additional guidance documents that can be found on the FONERWA website – www.fonerwa.org
Please note that applications are submitted online in English only through the FONERWA website here.
The Fund is open for submissions from 01 March 2017. For any further details or inquiries with regard to the application process, please contact us at email@example.com and copy firstname.lastname@example.org.