Nationwide GERD bond selling week launched

Addis Ababa, March 27, 2024 (FBC) – A nationwide Grand Ethiopian Renaissance Dam (GERD) bond selling week has been launched in Addis Ababa today.

On the occasion, Public Relations and Media Communication Director at the GERD Coordination Project Office, Hailu Abreham, told the media that 100 million Birr is expected to be raised during the week.

The Development Bank of Ethiopia, Commercial Bank of Ethiopia, and other financial institutions have finalized preparations to carry out the sale launched in connection with the 13th year anniversary of the dam’s commencement, he added.

According to the director, the participation and continued support of the general public has been instrumental in reaching the current status of the GERD.

By the dedicated participation of the general public and the unwavering commitment and support of the government, the overall construction of the grand dam has reached 95 percent.

Hailu finally urged the public to continue their unwavering support to the completion of the dam, per ENA.

During the past 13 years, over 19 billion Birr was raised for the construction of the dam using various fund raising mechanisms.