Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia
Date of accreditation06 Mar 2016
The Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia (MOFEC), formerly known as the Ministry of Finance and Economic Development, is a national entity located in Ethiopia. Its mandate is to oversee the planning and implementation of development programmes, including those that address climate change. Its activities in climate-resilient development pathways, valued at over US$ 400 million, include mitigation and adaptation projects and programmes in a variety of sectors, particularly agriculture, water, energy, forestry, buildings, industries and transport. Some of its key activities in these sectors include natural resources management through watershed management, afforestation and reforestation, energy generation and access, and low-carbon transport systems. MOFEC houses and has created, jointly with another public sector entity focused on the environment, a designated special purpose facility that will channel its climate investments into the country. Accreditation to the GCF is an opportunity for MOFEC to continue developing a climate-resilient economy through the delivery of projects and programmes by working with national and subnational actors. While building its own capacity, MOFEC also intends to use its partnerships with regional organizations to share its experiences with other developing countries to prepare them to access climate finance.