EnvironmentNews

Ethiopia, Norway Sign $75mln Climate Partnership Deal

ADDIS ABABA – Ethiopia and Norway signed a 75 million US dollar climate partnership agreement for certified emission reductions in the East African nation.

Finance Minister of Ethiopia Ahmed Shide signed the partnership agreement with Norway’s Climate and Environment Minister Andreas B Erickson on Tuesday.

The deal extends Norway’s support to forest management, protection, and restoration of degraded landscapes in Ethiopia up to 2030.

“This funding will enable Ethiopia to continue investing in the management and conservation of our standing forests and restoration of our degraded landscapes,” the Finance ministry says.

At the signing ceremony, Finance Minister Ahmed affirmed that Ethiopia remains committed to building a climate-resilient and carbon-neutral economy.

He used the opportunity to request the Norwegian government to support Ethiopia’s effort to comply with the European Deforestation Regulation.

The regulation significantly impacts our strategic export commodity – Coffee, according to the Minister.

The two countries have been engaged in bilateral cooperation on multiple areas of common interest ranging from peace and security to climate change and migration management since 1995.