Rwanda has announced that it requires $500 million to fully implement its ambitious biodiversity conservation strategy, aligning with the Kunming-Montreal Global Biodiversity Framework.
The disclosure was made by Environment Minister Valentine Uwamariya during the Biodiversity Finance Initiative (BIOFIN) Africa and Arab States Regional Dialogue in Kigali, which gathered over 150 experts from 55 countries.
Despite rich ecosystems, both Africa and the Arab States face significant funding shortfalls in biodiversity finance. Globally, the gap is estimated at $700 billion annually, threatening over one million species with extinction. The BIOFIN initiative, led by the United Nations Development Programme (UNDP), aims to close these gaps by mobilising public and private capital, introducing innovative finance solutions, and reforming harmful subsidies.
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“Biodiversity finance must accelerate now, bringing more actors on board, especially the private sector,” Uwamariya emphasised. Rwanda has already aligned its National Biodiversity Strategy and Action Plan with global biodiversity targets, setting 19 national objectives aimed at halting biodiversity loss while generating sustainable economic returns.
Rwanda’s innovative approach includes leveraging digital platforms like IremboPay to collect environmental fines, which are reinvested into restoration projects through the Rwanda Green Fund. Successful projects such as the Nyandungu Wetland Eco-Park are being expanded with the rehabilitation of five more wetlands in Kigali.
Across Africa, other nations are pioneering similar finance models. Botswana has reformed protected area fees, raising over $7 million; Zambia has issued a $200 million green bond; while South Africa and Egypt are developing comprehensive biodiversity finance portfolios.
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“This dialogue signals a shift from identifying funding gaps to deploying real solutions such as green bonds, biodiversity credits, and nature-based insurance,” said Onno van den Heuvel, Head of Nature Finance at UNDP.
