The government of Ethiopia has been granted $50 million from the Green Climate Fund (GCF) for climate-resilience projects, the Ministry of Forestry, Environment and Climate Change said here Tuesday.
The Deputy Minister, Kare Chawicha, said Ethiopia will receive the money after independent GCF experts decided on the amount’s ceiling.
The Deputy Minister, Kare Chawicha, said Ethiopia will receive the money after independent GCF experts decided on the amount’s ceiling.
Ethiopia launched its ambitious five-year economic Growth and Transformation Plan (GTP II 2015-2020) in July and it had hoped to unlock up to $250 million from the fund through the Ministry of Finance and Economic Co-operation to meet its ambitious green development strategy.
The Executive Director of Population, Health, Environment (PHE), a consortium of dozens of local and international NGOs, Negash Teklu, said unlocking funds for projects in Ethiopia is not just about helping Ethiopia achieve its CRGE goal of becoming carbon neutral by 2025 but about collective growth and security.
GCF, based in South Korea, is a mechanism to redistribute money from the developed to the developing world, founded within the United Nations Framework Convention for Climate Change (UNFCCC), the organization which is organizing COP21.
Source: http://en.starafrica.com/
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