Rwanda Green Fund welcomes new Board of Directors
Fri, 03/16/2018 - 23:29
The Rwanda Green Fund (FONERWA) has welcomed its newly appointed Board of Directors at an introductory meeting during which the mission, vision and strategic direction of the fund were explained to the members. The Board of Directors committed to work together to ensure the success of the fund and support climate finance mobilisation for a green Rwanda.
The new Board of Directors for the fund was appointed by the Cabinet in its meeting on 14 February 2018. The appointments come after the recent revision of the law establishing the mission and organisation of the fund, providing the institution with more autonomy and flexibility to deliver on an ambitious mandate that includes mobilising climate finance at scale.
The board will be led by the Chairperson, Etienne Ntaganda, and Vice-Chairperson, Laurence Uwambaje. The additional seven members include:
- Christian Sekomo
- Alice Kagoyire
- Naila Umubyeyi
- Sheila Mutavu
- Aisha Nyiramana
- Eugene Rutagarama
- Jean Claude Mutajogire
The board members hail from a wide range of backgrounds well suited to the work of the fund, including environmental issues and finance. The Board of Directors is vested with the most extensive power to make decisions regarding administration, human resources and property of the fund in order to fulfil its responsibilities.
Speaking about the new Board of Directors, fund CEO Hubert Ruzibiza said:
“The board comes with a set of experiences and skills that will help the fund achieve its goal of mobilising resources to support Rwanda’s green growth and climate resilient development. They will also support the fund to better engage with the private sector and facilitate investment in climate resilient projects.”
The Rwanda Green Fund welcomes the new board members as it embarks on the next phase of contributing to the country’s sustainable development and mitigating the impacts of climate change.
Read the resolutions of the 14 February 2018 Cabinet meeting here and the revised law governing the fund here, which also outlines the role of the board.
Photos - Rwanda Green Fund Board Members
About the Board of Directors
The Board of Directors is the supreme organ of the Rwanda Green Fund (FONERWA). It is composed of nine members appointed by a Presidential Order, including the Chairperson and the Vice-Chairperson.
Members of the Board of Directors are selected from Rwandans or foreigners on the basis of their competence and expertise in matters related to environment conservation or finance. At least thirty percent (30%) of the members of the Board of Directors of the fund must be women.
A Presidential Order determines the term of office of the members of the Board of Directors as well as the modalities of their replacement. The meeting of the Board of Directors is held once a quarter.
The main responsibilities of the Board of Directors are the following:
- to oversee the functioning of the Executive Organ of FONERWA and to provide strategic guidance to be followed by the Executive Organ in fulfillment of its mandate;
- to approve the strategic plan and action plan of FONERWA and related reports;
- to approve the projects to be financed;
- to monitor execution of the projects supported by FONERWA;
- to approve the procedure manuals and internal rules and regulations of FONERWA;
- to approve the annual draft budget of FONERWA and make follow up on budget execution;
- to approve the staff statutes, their salary structure and fringe benefits;
- 8 º to approve fringe benefits to be allocated to FONERWA staff based on their performance;
- to approve the annual financial statements of the previous financial year;
- to determine the organisational chart of FONERWA, job profiles, duties and responsibilities of its employees and to set related terms and conditions of employment after consultation with the Ministries in charge of protection and preservation of environment, public service and finance;
- to appoint and dismiss the staff of FONERWA, except the Chief Executive Officer and his/her Deputy;
- to take decisions on any other issue under the mission of FONERWA that this Law or any other law has not entrusted with any other organ of FONERWA.