Wüstenschiff

Ethiopia said it will be investing billons of Dollars to execute various Climate Resilient Green Economy projects across the country. The state minister for environment, Kare Chawicha, said the Horn of Africa nation would invest $150billion to implement projects in the next two decades. The projects are expected to transform the country’s economy to a green one and make them resilient to the effects of global warming. The new target, the minister said, seeks to reduce greenhouse gas emission, advance economic growth as well as create job opportunities for women and youth. According to the minister, $ 50billion of the total budget will be allocated to the construction of low-carbon emission and green infrastructures. Citing to a study conducted on the country, she said Ethiopia annually needs $7.5 billion for the implementation and transformation of its climate-resilient green economy. Financial sources will be secured from the government and Ethiopian people, investors, financial partners and from revenues collected from trades in the carbon market.