Ethiopia gets $13.5mn World Bank loan for forest coverage

ADDIS ABABA (AA) – The World Bank has provided a $13.5 million loan to Ethiopia to help the country reduce carbon emissions and increase its forest coverage.

“Ethiopia is one of 35 countries supported by the World Bank for the implementation of the Climate Resilient Green Economy (CRGE) Strategy,” Yitebtu Moges, national coordinator of the Reducing Emission from Deforestation and Forest Degradation (REDD) strategy, told Anadolu Agency on Saturday.

“Ethiopia managed to secure the required $13.5 million from Norway and the UK through the World Bank to implement its preparation phase for the same purpose,” he said.

Moges said that $8.5 million was provided by Norway, while the remaining $5 million was granted by Britain.

Last year, Ethiopia and Norway signed a REDD Partnership agreement to support Ethiopia’s forest sector and the implementation of the CRGE strategy, according to Moges.

“Norway has provided additional $10 million to encourage Ethiopia keep up its satisfactory performance,” he said.

He said that Norway has also provided $3 million for designing a program aimed at the expansion and preservation of forests in Ethiopia’s Oromia Regional State and pledged $50 million for the implementation of the program.

As of next January, a national forest assessment program will be implemented to help have complete information about the country’s forest coverage by June 2016, Moges said.

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