The two institutions revealed that the concessional loan will be offered under the Ireme Credit Facility, a private-sector focused green investment facility powered by Development Bank of Rwanda and the Rwanda Green Facility offering loans at an interest of 12 per cent. The loan is also aimed at supporting Rwanda\u2019s transition to smart and sustainable cities.<\/p>\n
The signing ceremony was held at the Kigali Independent University campus and was attended by Kampeta Pitchette Sayinzoga, the Chief Executive Officer (CEO), Development Bank of Rwanda, and Rwigamba Balinda, the Founder and President Kigali Independent University, and representatives from the Rwanda Green Fund and Agence Fran\u00e7aise de Development.<\/p>\n
\u201cWe are pleased to partner with Kigali Independent University to advance Rwanda\u2019s climate action agenda. Through the Ireme Invest Credit Facility, we are not only investing in climate-friendly student housing, but also nurturing and equipping the next generation of leaders with the values of sustainability and care for our planet,\u201d said Sayinzoga.<\/p>\n
The facility will feature a lounge, recreational room and a dining hall equipped with a modern kitchen. The hostel will also be fitted with LED lights, sensors for water taps and showers, solar water heaters as well as natural ventilation for low energy cooling.<\/p>\n
The partners also disclosed that the project had already received the EDGE Advanced Preliminary Certification due to its eco-friendly design. The certification is awarded to real estate projects with a minimum of 40 per cent reduction in energy as well as at least 20 per cent reduction in water use and embodied energy materials at the design phase.<\/p>\n
It\u2019s estimated that energy savings of 43.91 per cent, water savings of 39.35 per cent and embodied carbon savings in materials of 38 per cent will be achieved at the conclusion of the project.<\/p>\n
\u201cULK is a future focused higher learning institution and we are proud to partner with BRD and Ireme Invest to build the first ever EDGE certified eco-friendly student accommodation in Rwanda. By building high quality, environment sound facilities, we are investing in the well-being of our students and contributing to Rwanda\u2019s vision to carbon neutral by 2050,\u201d said Prof. Balinda.<\/p>\n
According to the partners, the project is set to create at least 325 jobs.<\/p>\n","protected":false},"excerpt":{"rendered":"
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