Addis Ababa, August 3, 2022 (FBC) – Ahmed Shede, Minister of Finance, stated that Ethiopia generates more than 90% of its modern electricity from clean and green sources, including hydropower generated by the Grand Ethiopian Renaissance Dam, which will also enable electricity exports to neighboring countries.

He emphasized that despite having a high energy producing capacity, Ethiopia still has the second-largest energy access deficits in Sub-Saharan Africa and the third-largest in the world.

The Minister was giving a speech at the ECA on August 3, 2022, the first day of a three-day African Regional Roundtable on Climate Initiatives that began in Addis Ababa. The Roundtable aims to spur climate finance and investment flows in order to increase Africa’s climate resilience.

Along with the African Finance and Trade Ministers and other stakeholders, representatives from the Ethiopian Ministry of Foreign Affairs also attended the meeting.

The statements of Finance Minister Ahmed Shede further emphasized how vulnerable nations are bearing the burden of the climate crisis despite their modest contribution to global warming and aspirational climate goals.

He urged rich nations to uphold their promises to reduce greenhouse gas emissions and to provide funding to the most vulnerable economies so they can transition to low emission growth trajectories as well as adapt to the effects of climate change.

The forum, coming ahead of Egypt’s presidency of the 27th United Nations Climate Change conference (COP27) that takes place in Sharm El Sheikh next November, is being held under the theme: “Towards COP27: African Regional Forum on Climate Initiatives to Finance Climate Action and the SDGs.”

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