This was confirmed last week by the Office of National Coordination for the Construction of the Dam, on the occasion of the 12th anniversary of the laying of the foundation stone of GERD.
Briefing the media, the coordination office acknowledged the contributions by Ethiopians in the country and abroad to the dam.
According to the coordination office, Ethiopia expects to collect 50% of the 2 billion birr in the current financial year. This will be collected through bond sales and other means of fundraising.
The latest development comes days after Egypt, which gets 90% of its water from River Nile expressed concerns over what it said is Ethiopia’s “unilateral practices” regarding the dam.
Speaking at the opening of the 159th session of the Council of Arab Foreign Ministers this month, Egyptian foreign minister Sameh Shoukry said the dam threatens water security in his country.
The minister added that the mega dam poses danger to the country’s economy and national security.
“I do not fail to address a pivotal issue of advanced priority, which has fateful consequences for Egypt’s national security, namely the danger of unilateral Ethiopian practices on the common river basins, of which the GERD is the most prominent current manifestation.” the Minister said.
Egypt is not the only Nile-sharing country opposed to the GERD. Sudan has also in the past expressed concerns about the construction of the giant hydro-power dam on the Nile River’s main tributary giant hydro-power dam on the Nile River’s main tributary, arguing that this could lead to drought and seasonal flooding in countries sharing the river.
Launched in 2011, GERD is a $4.6 billion project which according to Ethiopia provides extraordinary national significance for the future of its economic and energy security. 65 million Ethiopians, which accounts nearly 60% of the population, have no access to electric power.
The huge dam is expected to generate 6.4-GW (6450MW) after completion. Ethiopia says, last year, in the first filling the Dam’s reservoir retained 4.9 cubic metres of water without “interrupting the continuous flow of water to the lower basin.”
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