Ministry of Finance and Economic Development (Ethiopia)

Background The Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia (MOFEC), formerly known as the Ministry of Finance and Economic Development, is a national entity located in Ethiopia. Its mandate is to oversee the planning and implementation of development programmes, including those that address climate change. Its activities in climate-resilient development pathways, valued at over US$ 400 million, include mitigation and adaptation projects and programmes in a variety of sectors, particularly agriculture, water, energy, forestry, buildings, industries and transport. Some of its key activities in these sectors include natural resources management through watershed management, afforestation and reforestation, energy generation and access, and low-carbon transport systems. MOFEC houses and has created, jointly with another public sector entity focused on the environment, a designated special purpose facility that will channel its climate investments into the country. Accreditation to the GCF is an opportunity for MOFEC to continue developing a climate-resilient economy through the delivery of projects and programmes by working with national and subnational actors. While building its own capacity, MOFEC also intends to use its partnerships with regional organizations to share its experiences with other developing countries to prepare them to access climate finance. Mission Make real a prosperous Ethiopia by formulating development policies, preparing development plan and budget, mobilizing and administering external resources, installing modern, efficient, effective and accountable public finance and property administration and controlling system. Vision Become a capable and leading organization for the realization of faster, sustainable and equitable economic development. Values -Law, regulation and guideline for success -Culture for a team work -Initiative to learn and change -Outcome that centered customers’ satisfaction Strategic Pillars -Public finance administration and control -Resource mobilization and effective utilization -Economic leadership and management Strategic Objectives -National perspective -Ensure faster, sustainable and equitable economic growth -Improve the macro-economic administration -Scale up the supply of resource for development -Harmonize population issues with economic growth -Enhance the delivery and distribution of information and communication -Boost developmental partnership and cooperation Resource Perspective -Improve the effectiveness of resource utilization -To better resource flow Learning and growth perspective -Develop the skill, knowledge and attitude of human resource -Make the working environment conducive -Improve leadership and decision making capacity -Increase the supply of information technology