GERD bond week starts

Addis Ababa, March 19, 2018 (FBC) – The office of the National Council for the Coordination of Public Participation on the Construction of Grand Ethiopian Renaissance Dam (GERD) started the third-round bond week today to raise fund for the dam.

Deputy director general of the office, Tagel Kenubh, said his office planned to sell bonds worth more than 120 million birr in the bond week, which will continue until March 26, 2018.  

He said more than 200 temporary sites were established across the nation to sell bonds, including 92 sites in all sub-cities of Addis Ababa.  

The minimum bond value is 50 birr and the maximum 1 million birr. There is no limit on the maximum amount one wants to buy.

According to data obtained from the office, more than 100 million birr was raised last Ethiopian year in the GERD bond week.

The construction of GERD is fully funded by the people and government of Ethiopia.

Ethiopians at home and abroad have so far raised over 10.9 billion birr for the construction of Africa’s largest dam once completed. It is now more than 64 percent complete.

The 7th anniversary of the start of construction on the dam will be celebrated recently.

Translated and posted by Amare Asrat