adminconstruction of Africa’s biggest dam over the Nile River.
The project has created a diplomatic row between Ethiopia and neighbouring Egypt, which is against the construction of the dam.
Ethiopia has projected that the Great Renaissance Dam will produce around 5 250 megawatts of electricity when complete in 2015. Generation of electricity will start in two years. The construction of the dam, to be fully funded by the government will cost US$5 billion, which is almost equivalent to Ethiopia’s annual budget.
After launching the project in April, the government introduced the selling of bonds both locally and abroad to generate money for its implementation.
Ordinary Ethiopians have been using their monthly salaries to buy the bonds. Schoolchildren have also not been left out as they have given donations towards the project. – Africa Report.
A committee tasked with the mobilisation of funds for the project last Thursday said US$ 200 million had been collected so far from the government and private employees.
A number of private organisations and business people have also bought the bonds.
The dam will flood 1 680 square kilometres of forest in northwest Ethiopia, near the Sudan border, and create a reservoir that is nearly twice as large as Lake Tana, the country’s largest natural lake – Africa Report.
Online Reporter