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Ethiopia establishes the Ethiopia Climate Resilient Green Economy (CRGE) Facility
19 Dec 2012
Addis Ababa – On 19 December the Ethiopia CRGE Facility was established with the signing of the Memorandum of Agreement between the Government of FDR of Ethiopia and the UNDP MPTF Office that will serve as the interim fund administrator. The agreement was signed in Addis Ababa by H.E. Ahmed Shide, State Minister of Finance and Economic Development and Mr. Eugene Owusu, UN Resident Coordinator/UNDP Resident Representative in Ethiopia.
The CRGE Initiative, including the Green Economy Strategy, was launched in December 2011. It consists of the CRGE Strategy, an integrated planning process called ‘iPlan’ under which CRGE sector investment plans will be developed, CRGE institutions (CRGE Units in line ministries and in Regional States), a national Monitoring, Reporting and Verification (MRV) system and a CRGE Facility. To support the implementation of the priorities of the CRGE Strategy and Investment Plans, Ethiopia set up the CRGE Facility, as primary financial vehicle to mobilize, access and combine domestic and international, public and private sources of finance to support the institutional building and implementation of Ethiopia’s CRGE Strategy.
Over 60 Green Economy initiatives have been identified for their potential to ensure that Ethiopia’s 2030 greenhouse gas (GHG) emission levels do not exceed the current 150 megaton CO2 equivalent. This avoids about 250 megaton CO2 equivalent that would be emitted if a conventional development path were followed to meet economic growth goals.
More details on the Ethiopia CRGE Facility can be found on http://mptf.undp.org/factsheet/fund/3ET00