GERD Bond Week Launched

Addis Ababa, March 24/2020(ENA) A National Great Ethiopian Renaissance Dam (GERD) Bond Week was launched here today to enhance the fund raising scheme for the dam.

The bonds will be available nation-wide in all branches of the Commercial Bank of Ethiopia and the Development Bank of Ethiopia, and micro finance institutions, starting from today.   

Speaking at the launching ceremony, National Council for the Coordination of Public Participation on the Construction of GERD Director-General Roman Gebreselassie said the bond week is prepared to further ignite public participation, following the ninth anniversary of the dam.

Ethiopians and the Ethiopian Diaspora can buy the bond and contribute their share toward the completion of the dam, which has now reached 71 percent, she added.

At the bond selling ceremony held during the launching, WARYT Mulutila International PLC, Managing Director Tihitina Legesse, in collaboration with management members of the company, bought one million birr bond.

Members of the National Council for the Coordination of Public Participation on the Construction of GERD also contributed over one hundred thousand birr.

The office is working to expand public support to the construction of the dam.

Though the public has so far contributed over 13 billion birr for the dam, the director-general urged them to continue supporting the realization of GERD with a sense of ownership.  

Upon its completion, the dam is expected to play an important role for regional integration and economic transformation.