Ethiopia, a country highly vulnerable to extreme weather events, land degradation, deforestation and food insecurity, is stepping up its efforts to fight climate change, promote sustainable rural development and build resilience.
On Friday, two agreements were signed between the Government of Norway and the World Bank to provide significant financing for sustainable land management, climate-smart agriculture and forest protection in the country.
The first agreement injects an additional US$50 million grant funds from the Government of Norway through a trust fund to co-finance the Sustainable Land Management Program (SLMP II) aimed at reducing land degradation and increasing land productivity of smallholder farmers.
In the second agreement, Norway provides US$13 million through the World Bank’s BioCarbon Fund (BioCF) to support Ethiopia’s Climate Resilient Green Economy (CRGE) Facility and to promote climate-smart agriculture, forest protection and land rehabilitation at the landscape level.
Norway’s contribution complements initial funding of US$5 million from the United Kingdom’s Department for International Development (DFID), and ongoing financing from the Forest Carbon Partnership Facility (FCPF).