Climate Innovation Centre (CIC) has set off operations in Ethiopia and is expected to deploy and develop climate friendly technologies.
The move by the clean technology revolution aims at driving solutions to climate change through the provision of financial support and mentorship to local climate change entrepreneurs specialized in energy efficiency, biofuels, renewable energy and agribusiness.
Having Infodev a global innovation program by World Bank, spearhead the project, Ethiopia CIC was established in December 2013 and launched with the support of a $5million grant agreement between World Bank and the Addis-Ababa University.
Ethiopia CIC is expected to support over 200 technologically driven climate ventures with the provision of about 12,000 jobs in the next ten years. It is also expected to help over 3 million Ethiopians adapt to climate change, boost access to energy for 265,000 people and increase agricultural practices for 120,000 farmers.
The project will over the years be launched in other parts of the world so as to encourage a pro-active participation of countries in the ongoing global clean technology to reduce harmful emissions.