"Environmental sustainability and climate action are critical to achieving Ethiopia’s ambitious growth and development objectives, said Commissioner for International Cooperation and Development, Neven Mimica, said after announcing the funding on Monday.
The EU’s 36 million Euro contribution will help two key sectors – forestry and industry – to become more sustainable and mitigate the consequences of climate change".
The bulk of the EU’s contribution about €33 million will be channelled through the Ethiopian government.
An additional €3 million will enhance the country’s measurement, reporting and verification systems, making them compliant with Paris Agreement standards.
Ethiopia's deforestation is responsible for 37 % of the country's total (GHG) emissions.
EU intervention in this sector will support the country in improving forest management and reducing deforestation.
For industry, the focus of EU support will be on boosting energy efficiency, improving energy management and curbing fossil fuel use in cement manufacturing, as this sector will account for 18% of the country's Green House Gas emissions by 2030, unless remedial measures are taken.