4. There should be clear and publicly disclosed policies, rules, procedures, or arrangements in relation to the SWF’s general approach to funding, withdrawal, and spending operations.
4.1. The source of SWF funding should be publicly disclosed.
4.2. The general approach to withdrawals from the SWF and spending on behalf of the government should be publicly disclosed.
AgDF’s Finance Policy spells out a general approach to funding, withdrawal, and spending operations and is disclosed to the public via its website. This policy is supplemented by other key policies including the Investment Policy Statement, the Risk Management Policy and Internal Audit Policy.
The sources of AgDF funding are publicly disclosed on its website:
Dividends from portfolio companies.
Returns from investments.
Proceeds from privatization of Government assets.
Grant of the Government of Rwanda.
No withdrawals from AgDF for spending purposes are accepted. The Fund serves principally as the vehicle for long- term investments for generations of Rwandans, and as such, withdrawals for spending on behalf of the Government are therefore not in line with the Fund’s mandate.