Ethiopia, Norway pen a $25mln grant agreement

Addis Ababa, October 10, 2023 (FBC) – The Ministry of Finance of Ethiopia (MoF) and the Norwegian Ministry of Foreign Affairs (MFA) represented by the Royal Norwegian Embassy in Addis Ababa signed a 273 million Norwegian Kroner (approximately 25 million USD) grant agreement for the second phase of the REDD+ Investment Program.

It is learned that the grant agreement also constitutes an unfunded amount of 148 million NOK, which is expected to be mobilized by the Government of Norway during implementation.

The signed program titled “REDD+ Investment Program Phase II” is expected to contribute to Ethiopia’s nationally determined contribution (NDC) targets of emission reduction, increased forest cover, and increased GDP.

The signed program is a second phase and a continuation of the REDD+ Investment Program which has been financed by the Government of Norway and under implementation since 2017.

The grant agreement was signed by Semereta Sewasew, State Minister of MoF and Stian Christensen, Ambassador of Norway to Ethiopia, on behalf of the Norwegian Ministry of Foreign Affairs.