By Grace Ademulegun
The Climate Investment Funds (CIF) has approved a $500 million project for Ethiopia, aimed at combating land degradable, rebuild ecosystems and enhance food security in the country.
The approved fund, which was announced on Wednesday, December 4, comprises $37 million in direct investment from CIF’s Nature, People, and Climate program, and an additional $492 million anticipated from co-finance by international partners like the African Development Bank and World Bank.
The project seeks to rehabilitate around 320,000 hectares of damaged land, including farmlands, rangelands, and wild Arabica coffee forests.
Paul Hartman, the head for CIF’s nature programs, stated, “This program is really trying to address how land degradation and climate change are undermining the livelihoods of millions of smallholder farmers and pastoralists in Ethiopia.”
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Afforestation, reforestation, soil regeneration, water conservation, and sustainable farming are among the important projects that will be supported by the funds.
To enhance the nation’s forest management and monitoring, Hartman said an online forest register will also be created.
Ethiopia is mostly dependent on agriculture for its livelihoods, with over half of its land being degraded and 11 million hectares under risk of desertification.
In addition to addressing the nation’s escalating environmental challenges, the program aims to increase agricultural output, lower poverty, and guarantee food security.
Hartman emphasised the necessity for nations to incorporate solutions into their climate and biodiversity policies as world leaders gather in Riyadh to address land degradation and its connections to climate change.
Although over half of Ethiopia’s requested funding has been raised, he continued, private and charitable contributions should cover the remaining amount in the upcoming months.
Ethiopia’s dedication to tackling environmental issues and advancing sustainable development for its rural populace is demonstrated by this historic effort.
