Any meaningful structural change, must favor debt, restructuring and lower interest rates, President Paul Kagame of Rwanda has said.
This even as he welcomed the discussions held at the Paris Summit for a new global financial pact that will adequately address Africa’s vulnerability to climate change.
Speaking during the Africa Climate Summit in Nairobi, President Kagame called for unity of purpose among African states, noting that blame games will not provide answers to climate change.
He called for a more pragmatic approach for Africa to be a key player in the search for global climate solutions.
“We cannot keep talking about it without knowing what is required to fix the problem. Playing blame game is not necessary. A more pragmatic approach is for Africa to be a key player in the research and search for global climate solutions.” Said President Kagame.
President Kagame said Rwanda´s plan is to have Private sector play a greater role in building a green economy adding that their strategy is to position Rwanda as an attractive destination for international climate financing and investing.
So far he said, more than $200 million has been mobilised from domestic and international partners including the European Investment Bank and the Green Climate Fund.
“We have been working closely with International Monetary Fund -IMF, as a participant and resilience sustainability trust. We have accessed long-term financing to further integrate climate into our economic policies.”
While lauding the international community efforts, he said the partnerships show that the international community is taking seriously the call to reform the global financial architecture.
“This is a good sign that the international community is taking seriously the call to reform our global financial architecture but there is still room for improvement.” Said President Kagame.
