Rehabilitation of five wetlands in Kigali will reduce flood risks for more than 220,000 residents while creating public green spaces, jobs and livelihood opportunities, Prime Minister Justin Nsengiyumva said at the 31st UN Climate Change Conference (COP31) in Türkiye.

ALSO READ: Prime Minister Nsengiyumva makes case for green industrialisation

With national and international partners, approximately $195 million has been invested in flood-risk reduction, informal settlement upgrading, the construction of access roads and, more recently, the rehabilitation of five urban wetlands covering nearly 500 hectares in Kigali, the Prime Minister said.

ALSO READ: VIDEO & PHOTOS: Inside Kigali Wetlands Park

Keep up with the latest headlines on WhatsApp | LinkedIn

"These investments are reducing flood risks for more than 220,000 residents while creating public green spaces, jobs and livelihood opportunities. Nature-based solutions can deliver resilience at scale," he said.

Rwanda is committed to extending this model to secondary and satellite cities, in line with the third version of its climate action plan, known as NDC 3.0.

However, he said, achieving this requires financing.

"Developing countries will need more than $300 billion annually for adaptation by 2035, up to 14 times the current support," he noted.

ALSO READ: COP31: What issues are on agenda as UN climate summit begins?

Rwanda has welcomed Türkiye's Sustainable Urban Resilience Financing Facility (SURFF), an initiative introduced under the COP31 Action Agenda.

The facility is intended to help cities turn climate objectives into investable projects, secure financing and deliver investments.

Prime Minister Nsengiyumva also cited the Green Gicumbi project in Gicumbi District, supported by the Green Climate Fund, which aimed to strengthen the resilience of about 249,000 people, nearly two-thirds of the district's population.

ALSO READ: What's at stake for Rwanda as COP31 approaches?

"Communities terraced hillsides, protected watersheds and moved vulnerable families into climate-resilient homes. Its independent evaluation confirms that climate-smart practices have spread, food security has improved and households are better able to withstand shocks," he said.

Achieving these ambitions requires addressing the barriers that have constrained investment, he noted.

"Good plans do not automatically become bankable projects."

Delivering Rwanda's statement at the high-level segment for heads of state and government at COP31, the Prime Minister said national action alone cannot deliver the transformation required.

"Under our third Nationally Determined Contribution, Rwanda has committed to reducing emissions by 53 per cent by 2035, relative to the business-as-usual scenario."

Achieving this target requires $12 billion in investment, 80 percent of which is conditional on international support, he said. Rwanda needs predictable, accessible and adequate financing for adaptation and mitigation to meet these targets.

"We must also remove the barriers that prevent capital from flowing into viable projects in developing countries. As President Kagame observed at the recent Commonwealth Heads of Government Meeting, the perception that 'there are higher risks for investments in the South than in the North' is misplaced. Investments should be judged on their merits, not on their location."

To complete the process, please follow the instructions in the email we just sent you.

There was a problem processing your submission. Please try again later.

He said governments and the private sector must work together to make viable projects investable, deepen markets and mobilise capital on terms that developing economies can afford, without adding to unsustainable debt.

"Rwanda stands ready to cooperate with all nations. As we assume the chairmanship of the G77 and China in 2027, we reaffirm our commitment to strengthening solidarity among developing countries and completing the outstanding work under the climate negotiations, including work on Global Goal on Adaptation indicators relating to financial needs and financial provision," he said.

Read the original article on New Times.

AllAfrica publishes around 600 reports a day from more than 90 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 90 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.

To complete the process, please follow the instructions in the email we just sent you.

There was a problem processing your submission. Please try again later.