30 August 2014

Ethiopia: Bank to Collect 1 Billion Birr to Gerd

Photo: http://africanarguments.org
Artist's impression of the Renaissance Dam, under construction on the Blue Nile in Ethiopia.

The Development Bank of Ethiopia disclosed that it set plans to collect over one billion Birr for the construction of the Grand Ethiopian Renaissance Dam (GERD) this fiscal year.

In the last budget year the Bank was able to collect over one billion Birr from Government Savings Bond surpassing its target of 825 million Birr.

The Bank further said it will exert utmost effort to achieve its remaining targets as set in the Growth and Transformation Plan of the country.

The Bank indicated it has set aside 14.5 billion Birr for various projects this budget year.

The Development Bank of Ethiopia is striving to register remarkable accomplishments through providing financial and technical assistance to all development projects by 2020.

- ENA

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