A number of Ethiopians from all walks of life queued last week to purchase bond for the successful construction of the Grand Ethiopian Renaissance Dam (GERD) that has already started generating power. It is well recognized that GERD is a flagship project at the epicenter of minds and hearts of all Ethiopians and friends of Ethiopia who are eagerly waiting for its proper completion.
Captivatingly, this year has recorded a great accomplishment as the GERD started generating power and Ethiopia started enjoying the fruits of its grandchild for the first time on Feb, 20, 2022.
Prime MinisterAbiy Ahmed said during the inaugural ceremony that Ethiopia did not wish to harm the interests of neighbors.
“Ethiopia’s main interest is to bring light to 60 percent of the population who is suffering from darkness, to save the labor of our mothers who are carrying wood on their backs in order to get energy. As you can see, this water will generate energy while flowing as it previously flowed to Sudan and Egypt, unlike the rumors that say the Ethiopian people and government are damming the water to starve Egypt and Sudan,” he said.
Ethiopians, private companies and even other countries such as Djibouti are buying bonds. In addition, the Ethiopian Electric Power Corporation, a state-owned utility, is investing its own revenue and the money it is borrowing from state-owned banks.
Kingsley Ighobor, who is a public information officer for the United Nations, New York,and managing editor at the Africa Renewal, said that Ethiopia’s recipe for financing the dam from bonds and taxes is being touted as a model for other African countries.
This writer approached an 8th grader school boy Dawit Solomon who is now making contribution to the dam from the penny he earns for its completion. During the GERD bond week he said, “I am interested in financing the Dam, I am just informed how it could impact the lives of Ethiopians, and I will keep on contributing till the last day.”
He further noted that GERD, for Ethiopians, is a symbol and a sign of self-reliance and a combat against colonization. It is a sign of resilience and self-esteem, praising the power of unity. “Our dream has come true via abolishing the walls of impossibility. It is a seal and a sign of every Ethiopian. Everyone has put their legacy on the tower and walls of the dam.”
GERD is now in its 11th year of construction, and Ethiopians are keeping on financing and supporting for its completion. AselefechTsegaye is from the town of Shashemene. She makes a living by retailing packed plastics and charcoal. She said, “GERD is the game changer in ensuring communities energy demand at the urban and hinterlands lead improve lifestyle.”
“I had bought GERD Bond worth three hundred twenty thousand and will keep on supporting it. I believe that GERD is a project targeting at smashing out abject povertyand each fellow citizen’s contributions has to grow.”
Needless to state, energy is pivotal to catalyze development and attract foreign direct investment (FDI). It also has direct household-level impact to bring equity among gender disparities, reduce pressure on natural resources, and enable access to a health facility. These fundamental human needs that are accorded in the UN universal declaration of human rights are now very luxurious to the majority of Ethiopians. To live a dignified life, Ethiopians need access to energy, health, and education.
Energy for Ethiopians is not of a luxury commodity, preferably a hard fight choice to live a dignified life. GERD is a long-awaited dream for millions of youth for employment opportunity, and bread for the impoverished drought-hit pastoral communities. It is also a long-awaited dream for the rural shepherd who used to chant slogans and sorrows against the bad deeds that the Blue Nile has caused over their ancestors’ land. Above all, it is a quest for equity and shares over one’s natural resources. The Blue Nile, of which 86 percent flows from Ethiopia, annual water use is only 10 billion cubic water compared to Egypt’s 75 billion cubic water.
According to Office of the National Council for the Coordination of Public Participation to the Construction of the GERD, the participation of the society is growing and so far local bond 14.5 billion and Diasporas 1.37 billion with total sum of 16.4 billion birr was solicited.
GERD construction is on progress by all Ethiopians participation at home and fron abroad throughout the globe with no financial assistance from international, continental and regional organizations. But it is all because of the strong conviction and commitment of its citizens that the mega project is nearing completion despite different pressure imposed by the downstream countries, USA and the European Union.
BY MENGISTEAB TESHOME
THE ETHIOPIAN HERALD TUESDAY 5 APRIL 2022
