Ethiopia: Over 1 Million Birr Raised in Second Round Bond Sale


Ethiopian-Renaissance-Dam-in-EthiopiaDiaspora Ethiopians residing in the UK raised £33,200 (1,095,600 Birr) in Grand Ethiopian Renaissance Dam (GERD) bonds in the second bond-selling event organized at the Ethiopian Embassy in London on 21st June.


The Tigray Women’s Association in the UK pledged £10,900.


On the third anniversary of the launch of the GERD on 12th April, diaspora Ethiopians bought bonds worth £97,420 (3.2 million Birr). This brings the total money raised since April to £130,620 (4.3 million Birr).


Speaking at the Bond Selling Day, Ethiopian Ambassador to the UK, H.E. Berhanu Kebede urged compatriots to rise to the occasion and mobilize resources for the construction of the Hidasse Dam, a symbol of Ethiopia’s bright future.


Energy is critical to supplying power to Ethiopia’s fast-growing economy, and having carried out a number of grand self-funded projects including the Tekeze, Tana Beles and the Gilgel Gibe dams, Ethiopians have, with this growing self-reliance, gained confidence, in turn giving momentum to the country’s pro-poor economic development and transformation.


As one of the ten fastest growing economies in the world, Ethiopia is fast-tracking manufacturing on the back of a structural transformation in agriculture, hydropower, telecommunications and infrastructure, and continues to expand education and health facilities.


The Grand Ethiopian Renaissance Dam, which will eventually generate 6,000MW of power, is one of the mega projects embedded in the current five-year Growth and Transformation Plan (GTP), which drives forward the fight against poverty and backwardness.


The 21st June event was attended by hundreds of community members and invited guests, who enjoyed delicious national cuisines, music and poetry recitals.


Guests displayed a strong commitment to the national development strategies which have lifted millions out of poverty and committed themselves to continue fund-raising for the construction of the Renaissance Dam and to supporting nation building in all spheres of endeavour including investment, trade, tourism, transfer of skills and knowledge.


Video footage of the event will be available on our YouTube page soon:

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