Ethiopia is set to begin implementing her so-called green economy projects worth $150 billion over the coming 20 years, according to the country’s minister of Environment, Forest and Climate Change, Kare Chawicha.Speaking in Addis Ababa on Monday Chawicha divulged that of the total, $50 billion will be spent constructing low-carbon emission infrastructures around Ethiopia.
The source of funding will be the Ethiopian government, the public, investors, and partners and from carbon trading, he added. The main objective of the projects is to reduce greenhouse gas emissions, advance economic growth as well as create jobs for women and youth.
A study confirmed that Ethiopia needs $7.5 billion each year for its climate-resilient green economy. The country has been prone to drought, one of the most serious being the 1984 crisis in which millions had died of starvation.
Ethiopia last month joined over 150 countries to sign the Paris Agreement on Climate Change to limit global temperature rise to well below two degrees Celsius, and to strive for 1.5 degrees Celsius. The agreement was adopted in Paris by the 196 state parties to the UN Framework Convention on Climate Change (UNFCCC) at a conference known as COP21 last December.
[en.starafrica.com/]