Ethiopia to Raise 1.5 Billion Birr for GERD

GERD-EthiopiaOctober 12, 2017 - The Ethiopian government announced plans to raise 1.5 billion Birr in the current Ethiopian fiscal year for the construction of the Grand Ethiopian Renaissance Dam (GERD), reports Ethiopian News agency. .

The Office of the National Council for the Coordination of Public Participation on the Construction of the Dam announced the plan on Tuesday at a consultation forum being held in Addis Ababa.

The Office planed to realize the target by further strengthening wider public participation, implementing various fundraising mechanisms including lotteries, music concerts, arts and photo exhibitions, among others.

Efforts will also be exerted to widen the contribution of farmers, pastoral communities, investors and the Diaspora to realize the plan.

Ethiopia launched the construction of the grand dam along the Nile in April 2011, intended to finance the project itself by mobilizing domestic resources.

According to the original plan, the government is expected to mobilize a total of 10.1 billion Birr from domestic sources for the construction of the dam, which created consensus among the public.

Noting the willingness of the public to support the project, the Office has now upgraded its plan.

According to the revised plan, the total share of the public to the dam upgraded to 11.1 billion Birr from the previous 10.1 billion Birr.

Last year, 1.3 billion Birr, or 74.20 percent of the plan for the fiscal year, was raised by the public.

Source:- Ethiopian News Agency



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