Norway to help finance Ethiopia’s climate change policies
Ethiopia is on the path to sustainable land management, climate-smart agriculture and forest protection, thanks to two agreements signed by Norway and the World Bank.
The first agreement will pour more than $50m into a special trust fund to co-finance the Sustainable Land Management Programme (SLMP II), which is aimed at reducing land degradation and increasing land productivity of smallholder farmers.
Under the terms of the second agreement, Norway will invest $13m through the World Bank’s BioCarbon Fund (BioCF) to support Ethiopia’s Climate Resilient Green Economy Facility and promote climate-smart agriculture, forest protection and land rehabilitation. The United Kingdom has already pledged $5m.
According to Tove Stub, the charge d’affaires at the Norwegian embassy in Ethiopia, Norway is pleased to collaborate with the World Bank in supporting Ethiopia’s ambitious efforts to fight land degradation, deforestation and climate change while promoting sustainable development in the land use sector.
The aim of both agreements is to protect natural resource endowment and promote climate-smart land use to adapt and mitigate climate change and increase food security and resilience over a large area. Guang Zhe Chen, the World Bank’s country director for Ethiopia, said the agreements will strangthen the bank’s partnership for Ethiopia’s sustainable development.
The first agreement will pour more than $50m into a special trust fund to co-finance the Sustainable Land Management Programme (SLMP II), which is aimed at reducing land degradation and increasing land productivity of smallholder farmers.
Under the terms of the second agreement, Norway will invest $13m through the World Bank’s BioCarbon Fund (BioCF) to support Ethiopia’s Climate Resilient Green Economy Facility and promote climate-smart agriculture, forest protection and land rehabilitation. The United Kingdom has already pledged $5m.
According to Tove Stub, the charge d’affaires at the Norwegian embassy in Ethiopia, Norway is pleased to collaborate with the World Bank in supporting Ethiopia’s ambitious efforts to fight land degradation, deforestation and climate change while promoting sustainable development in the land use sector.
The aim of both agreements is to protect natural resource endowment and promote climate-smart land use to adapt and mitigate climate change and increase food security and resilience over a large area. Guang Zhe Chen, the World Bank’s country director for Ethiopia, said the agreements will strangthen the bank’s partnership for Ethiopia’s sustainable development.
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