Date(s) - October 9, 2021
6:00 am - 8:00 am
Categories No Categories
Decentralized Energy Access Financing: A Case from the Development Bank of Rwanda (BRD)
Ms. Alida Ikuzwe, Manager – Energy Sector, BRD
Access to reliable and affordable energy remains a considerable challenge in Rwanda. For Rwanda’s private sector to be competitive, the energy issue must be addressed as it is a crosscutting driver of economic growth. In order to fuel its growth, the National Strategy for Transformation (NST1) targets to substantially increase its energy supply from its current level of 228 MW to 556 MW, by 2024, at the same time increasing access to electrification to 100% of households through off-grid and on-grid technologies. NST1 also targets reducing the percentage of households that use firewood for cooking from the baseline value of 79.9% in 2017 to 42% by 2024, and phasing out the use of charcoal in urban areas.
In support of the government’s target, the Development Bank of Rwanda (BRD) will invest USD 185 million in the Energy sector and catalyze an additional USD 638 million from other stakeholders. BRD’s interventions have been designed to address key constraints in the sector such as high startup costs and risks involved. Energy projects require significant time and financial investments, and their long-term nature requires specialized financing terms. BRD has set up a Division of Energy Financing which is in charge of implementing the Bank’s intervention in the Energy sector. These interventions are grouped into three main programs – a. energy generation; b. energy efficiency; and c. technical assistance.
Ms. Alida IKUZWE is a Manager of Energy Portfolio at the Development Bank of Rwanda where she manages energy projects. Her key roles include design and execution of energy strategies, supervision of the activities of the Energy Department, implementation of energy projects in partnership with the Government of Rwanda and external development partners, monitoring the energy projects financed by the bank, as well as risk management. Alida’s area of expertise includes financial management, investment facilitation, private sector mobilization, and public relations. She holds MBA from Oklahoma Christian University.