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About Ministry of Finance and Economic Cooperation (MOFEC)

The CRGE strategy elaborates a number of low carbon emitting actions across key economic sectors to achieve its vision. The strategy also tasked the Ministry of Finance and Economic Cooperation (MoFEC) to establish a national climate fund to mobilize climate finance from various sources to realize this vision. Accordingly, MoFEC in collaboration with the Ministry of Environment, Forest and Climate Change (MEFCC) established (late 2012) and operationalized (early 2013) the CRGE Facility to attract climate finance to support the institutional building and implementation of Ethiopia’s CRGE Strategy. The facility is managed under the UN Agencies, CRGE Facility and Regional Economic Cooperation Directorate in MoFEC.

 

Vision

As Ethiopia’s national climate fund, the CRGE Facility will be recognized nationally and internationally as a premiere climate finance and CRGE coordination and delivery entity.

Mission

Through the development of partnerships with development partners and private sector, and through enhancing domestic investments from government, the CRGE Facility’s mission is to:

  • Mobilize funding in a flexible, coordinated and predictable manner that is invested in climate relevant projects and programs compliant with national and international fiduciary standards;
  • Support efficient and effective actions in GHG emissions reduction and increasing resilience as set out in the national Climate Resilience Green Economy (CRGE) strategy, which is aligned with sustainable development goals; and
  • Provide a unified engagement point where government, development partners, civil society and other stakeholders can engage and make decisions about climate finance related issues.