Climate Finance for Ethiopian Railways

Climate Finance for Ethiopian Railways

Addis citizens will enjoy riding on the new Light Rail from mid-2015

With the support of Climate Focus and Carbon Africa, the preparation of a finance proposal by Ethiopian Railways Corporation that will be submitted to the Green Climate Fund has now got underway. The Fund is issuing its first call for proposals this year and Ethiopia is preparing to be among the first countries to benefit under this financial mechanism.

The proposal focuses on leveraging climate finance from the private sector in order to enhance the feasibility of the country’s ambitious railway and lightrail development plans. Through these plans, which will come to fruition in the next few years, Ethiopia expects to avoid the emission of 9 million tonnes of CO2 per year by 2030.