Ethiopia: Investors to Bolster Support for Gerd

Investors declared that they would strengthen their support to the Grand Ethiopian Renaissance Dam (GERD) as it plays huge role in providing sufficient power supply for investment.

An investor called Tsegaye Abebe who has already bought 5 million birr bonds for the dam, added that he would continue supporting the project as much as he can.

The support extended by investors in particularly agriculture, agro-processing, industry and other similar sectors should be greater than the others because power supply is very crucial to the sectors, he added.

The other investor engaged in textile and garment, Fasil Tadesse, pledged to further extend financial support as the dam.

Tafesse Worku, another investor engaged in transportation sector, pointed out that the dam is all the more meaningful since the power generated in the country at prsent is not sufficient enough to enable Ethiopia to join the middle income countries.

He thus promised to continue purchasing bonds individually and collectively.

President of the Addis Ababa Chamber of Commerce and Sectoral Associations, Solomon Afework, recalled that the association had bought 500,000 birr interest free bonds for the dam, adding that plans have been devised to further organize the support of the business community.

Source: ENA

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