By: Shegaw Yemataw
Financial institutions are urged to continue their support for the Grand Ethiopian Renaissance Dam (GERD) until its completion.
The Grand Ethiopian renaissance dam project coordinator's office held a fundraising campaign in Addis Ababa targeting financial institutions.
Aregawi Berhe, Director General of the Public Participation Coordination Office for GERD; Kifle Horu, Project Manager of GERD; Solomon Desta, Deputy Governor of the National Bank of Ethiopia; as well as board chairs and presidents of various financial institutions were in attendance.
During the event, Director General Aregawi Berhe noted that the overall performance of the dam has reached 97.6%. He commended the contributions of Ethiopians, those of Ethiopian descent, and friends of Ethiopia for their unwavering support in financing and public diplomacy efforts.
Although the project is nearing completion, some technical tasks and remaining work still require additional funding.
Aregawi emphasized the importance of this fundraising campaign, as it aims to mobilize financial resources from banks, insurance companies, and microfinance institutions.
Deputy Governor Solomon Desta praised local financial institutions for their contributions to the country's development. However, he pointed out that while some institutions are doing their best, their contributions have not met expectations, with some not participating at all.
He called on all financial institutions to enhance their financial support for the Grand Renaissance Dam.
The campaign aims to raise over 110 million birr through participation in purchasing or reinvesting in the dam’s bonds.