A new climate innovation centre which aims to help jumpstart clean technology and climate-smart ventures has been launched in Ethiopia.
Called the Ethiopia Climate Innovation Center (ECIC), it is expected to help more than 3.1 million people increase resilience to climate change and create more than 12,000 jobs in the next 10 years.
ECIC will provide financing, mentorship and advisory services to local cleantech entrepreneurs working in energy efficiency, renewable energy, agribusiness and biofuels. A total of 28 SMEs and entrepreneurs have currently been selected to receive CIC support services.
The initiative is also expected to improve access to energy for 265,000 Ethiopians and increase agricultural efficiency for 120,000 farmers.
Guang Zhe Chen, World Bank Country Director for Ethiopia said: “The CIC is a unique initiative which will help to unleash the growth potential of local entrepreneurs while at the same time enabling them to come up with innovative business solutions to challenges related to climate change.
“By employing emerging clean technologies – such as off-grid solar energy, green building design and agricultural waste to energy plants – these entrepreneurs will continue helping Ethiopia adapt to climate change while creating jobs and improving the livelihoods of local citizens.”
Ethiopia’s agriculture, which is “highly sensitive to fluctuations in rainfall”, accounts for around 46% of the GDP and 80% of the jobs of the working population.