Last Update 19:50
Sunday, 09 August 2020

Govt bonds cover 26.3% of Ethiopian dam costs

The Grand Renaissance Dam is currently under construction in Ethiopia

Ahram Online, Friday 14 Mar 2014
ethiopia
Ethiopia's Great Renaissance Dam is constructed in Guba Woreda, some 40 km (25 miles) from Ethiopia's border with Sudan, June 28, 2013. (Photo: Reuters)
Share/Bookmark
Views: 7815
Share/Bookmark
Views: 7815

The under-construction Ethiopian Grand Renaissance Dam has received more than 26.3 percent of its construction costs in the form of government bonds purchased by Ethiopians, MENA reported.

The Egyptian state news agency, quoting Ethiopian Walta news, said the Ethiopian National Council for the Coordination of Public Participation on the Construction of the Grand Renaissance Dam “appreciated the remarkable contribution of the Ethiopian people.”

The $4.2 billion hydroelectric dam on the Blue Nile, one of the main tributaries of the Nile, has become a source of concern to Egypt. Officials say the dam may restrict the amount of water reaching Egypt, which is downstream from Ethiopia.

The Nile is Egypt's main source of potable water.

Ethiopians are so keen on the construction of the dam that they are backing it not only in finance but also in diplomacy, the council added.

The council said that Ethiopians, both inside and outside Ethiopia, have played significant roles in fighting negative attitudes in connection to the construction of the dam.

According to the council, March will witness celebrations in Ethiopia and other parts of the world to mark the third anniversary of the beginning of the construction of the dam.

Earlier this month, a spokesman of the government-owned Ethiopian Electric Power Corporation, which is constructing the dam, said 32 percent of the construction has been completed.

Egypt, Ethiopia and Sudan formed a tripartite technical committee to study the possible effects of the dam and try to generate consensus on the project. Ethiopia maintains that Egypt's water share will not be negatively affected by the successful completion of the dam.

In recent meetings in Khartoum, the tripartite committee was scheduled to draft a document that entails "confidence building measures" between the countries, and also to form a special international conflict resolution committee.

 

 

Short link:

 

Latest

© 2010 Ahram Online.