Ethiopia Sets Sight on Access to Climate Financing
Representatives from the Ethiopian Government, Development Partners and non-governmental actors met in Addis Ababa to share experiences around climate financing from Eastern and Southern Africa.
The roundtable discussion, held on 21 February 2014, was organised by UNDP to foster dialogue among Ethiopia’s key stakeholders and identify the country’s needs, priorities and progress made so far with a view to improve its readiness to access climate financing.
The event drew high level participation from the Ministry of Finance and Economic Development (MoFED), the Ministry of Environment and Forest, the Development Bank of Ethiopia, the World Bank, Department for International Development (DFID) and the Climate and Development Knowledge Network.
The roundtable discussion is part of a broader UNDP-supported strategic initiative on Readiness for Climate Finance which was successfully launched at 19th Conference of Parties (COP 19) in Warsaw in November 2013. The initiative involves in-depth analysis and stakeholder discussions in Ethiopia, Kenya, Lesotho, Mozambique Tanzania and Zambia, coupled with benchmarking against related initiatives and progress in other developing countries.
Findings from the other five countries and the initial findings from Ethiopia’s country case study were presented and widely discussed. Participants noted that Governments in developing countries often have to overcome three major challenges when implementing low carbon and climate resilient development strategies:
· Accessing new and innovative climate finance sources;
· Creating linkages between climate change strategies and national development objectives; and
· Identifying how to use limited public finance resources to attract private capital.
Presenting findings on Ethiopia, the consultants highlighted that the country had already tackled many of these challenges successfully. There was also said to be a high level of the readiness and understanding of climate finance in Ethiopia, strong institutional arrangements set up and political commitment to support Ethiopia’s aspiration to gain accreditation to the global Adaptation Fund and consequently, the newly established Green Climate Fund.