Climate Resilient Green Economy (CRGE) Facility

Summary

The CRGE Facility is a financial mechanism set up by the Government of Ethiopia to support the implementation of the Climate Resilient Green Economy (CRGE) Strategy and the development and implementation of CRGE Investment Plans. The Facility is based in, and overseen by, the Ministry Of Finance and Economic Development (MOFED). The main role of the Facility is to mobilise domestic and international sources of finance for the implementation of the CRGE Strategy and to manage results-based payments generated from projects that reduce greenhouse gas emissions, including carbon credits generated from REDD+ projects. The CRGE Facility has been identified as the main government unit for marketing and selling carbon credits generated from national REDD+ projects.

The CRGE Facility is also expected to facilitate greater coordination amongst climate change activities, by providing a single engagement point where stakeholders can engage and make decisions about climate change issues, minimizing duplication and and increasing overall effectiveness.

During the CRGE Facility's initial phase, the United Nations Development Programme will administer all international funds until the capacity of the Facility has been strengthened to manage the full CRGE account. MoFED will administer all domestic funds of the Facility.