(3 Minutes Read)
The anticipated revenue comes from two major deals: a USD 75 million agreement with Norway, signed last year, covering carbon credit sales for 2018–2022 and 2026; and a World Bank partnership expected to generate USD 40 million from the Oromia region, known for its high carbon potential.
Ethiopia is set to secure an estimated USD 115 million in carbon trading revenue through landmark agreements with the World Bank and the Norwegian government, the Ethiopian Forest Development (EFD) has announced. EFD Director General Kebede Yemam said that while the process will take time, activities are underway to generate the funds as part of the country’s broader environmental strategy. This includes the flagship Green Legacy Initiative (GLI) and other forestry programs for tapping into the global carbon market.
The anticipated revenue comes from two major deals: a US$75 million agreement with Norway, signed last year, covering carbon credit sales for 2018–2022 and 2026; and a World Bank partnership expected to generate USD 40 million from the Oromia region, known for its high carbon potential.
Read Also:
Ethiopia has already earned USD 12 million from the Bale Forest through a collaboration with Farm Africa. According to Kebede, the new funds will support infrastructure projects and incentivize community participation in forestry efforts. He stressed that while revenue is significant, the ultimate goal is building a sustainable economy through reforestation, emissions reduction, and climate resilience.