ULK and Rwanda Development Bank sign a loan agreement
On Wednesday, 20 March 2024, the Development Bank of Rwanda (BRD) signed a loan agreement under the Ireme Invest Credit Facility with Kigali Independent University (ULK), one of Rwanda’s leading private institutions in higher education. The signing highlights a significant milestone in Rwanda’s commitment to smart and sustainable urban development.
The Loan facility is aimed at construction of students’ green hostel facility to accommodate the Universities big number of international students who most of times face challenges to get accommodation.
The loan amount under this agreement shall be provided by the French Development Agency (AFD). The modern green facility will be having recreation areas, dinning areas, bedrooms, kitchen, water heating and cooling systems using renewable solar energy.
In her
remarks the CEO of Rwanda Development Bank Kampeta Sayinzoga Pitchette said
that the bank she leads decided to work with ULK because they realised that
this University offers quality higher education, and it puts into maximum
consideration and caring of the infrastructure it has and uses.
We decided to work with ULK to ensure that the new building they are constructing are made in a such way that it is environmental friendly. BRD also facilitated to find and give all required technical support and supervision so that the construction project fully becomes environmental friendly all these costs incurred by BRD. She added.
The President and Founder of ULK Prof. Dr. Rwigamba Balinda’s remarks shed light on Rwanda’s plan to envision a green future by 2050, striving for a carbon-neutral and climate-resilient economy. This ambitious goal is anchored in prioritized sectors such as: Clean Energy, Smart Mobility, Sustainable Cities, Climate-Smart Agriculture, and Waste Management within a Circular Economy framework.
Thus, Kigali Independent University (ULK) initiated the ULK Hostels project, with aim to offer high-quality and secure accommodation. This endeavour is facilitated by Ireme Invest, an investment facility dedicated to collaborating with Rwanda’s private sector to foster the growth of green businesses. Through this partnership, ULK is committed to promoting sustainable development while meeting the accommodation needs of our students.
Financed by the Ireme Invest fund, ULK has effectively implemented a green and sustainable project, Through strategic design choices the project predicts energy savings of 44%, water savings of 39% and embodied carbon savings of 38%.
The project’s achievements and predicted energy savings has earned it the distinction of a preliminary EDGE Advanced certification.
By designing and constructing a project that meets this exceptional level of environmental performance the project will have a lasting impact not only on those who utilize it but also on the larger community for years to come.
Some of Other officials who were present include the Vice Presidents and Deputy Legal representative of ULK Mrs. Nyirashyirambere M Louise, Brenda Mutoni, Green Finance Manager at BRD and Arthur Germond, Country Director, French Development Agency
