Ethiopia Launches Climate Facility
Ethiopia's Climate Resilient Green Economy Facility is off the ground following the signing of a Memorandum of Understanding between the Government and UNDP.
- Ethiopia's CRGE Initiative, including the Green Economy Strategy, was launched in December 2011 in Durban, South Africa during the 17th Session of the Conference of the Parties of the United Nations Framework Convention on Climate Change (UNFCCC).
- The Ethiopia CRGE Facility is a financial mechanism that was set up to support the implementation of the priorities set out in the country's CRGE Strategy and Investment Plans.
- The UNDP Multi-Partner Trust Fund Office (MPTF Office) serves as the provisional Trustee, providing fund administration services for funding that is channeled through the CRGE Facility’s International Account.
The Ministry of Finance and Economic Development (MoFED) will coordinate the Facility's activities. The CRGE Facility Ministerial Steering Committee will be chaired by the Prime Minister’s Office that will set the criteria and scope for approving investment plans and determine the overreaching priorities for the Facility.
UNDP's Multi Trust Fund Office will be the interim Administrative Agent for the CRGE Facility, and so will, on behalf of the Government of Ethiopia, receive and deposit financial contributions into the Facility account; and administer and disburse these funds to national entities through the MoFED national CRGE account. UNDP will also be investing in building up national capacity to administer funds, specifically here at MoFED to meet the necessary fiduciary management standards.
The CRGE technical Committee will be chaired by Environment Protection Authority.