ADDIS ABABA – It is the time to mobilize the business community’s involvement to replicate the Adawa Museum and other mega projects’ success in the completion of the Abbay Dam, the coordination office said.
Office of National Council for the Coordination of the Public Participation on the Construction of the Abbay Dam along with pertinent stakeholders organized yesterday the “Bond Purchase Program” for investors, financial institutions, development organization, and NGOs under the motto “Together We Can.”
Speaking at the occasion, the Office Director General Aregawi Berhie (PhD) stated that the public has been supporting the construction of the mega dam financially, professionally and in other ways since its launching.
Accordingly, some 19.4 billion Birr was collected from the public from bond sales and donation, lottery, SMS and other income-generating schemes from the launching of the dam till May 7/2024. Similarly, 1.2 billion Birr has been collected from the public to the iconic project during the past 10 months of the current fiscal year.
“Today’s program aims to extend gratitude for members of the business community who have significantly contributed to finance the dam and encourage others to extend support to the completion of the remaining task, which stands only 4%,”Aregawi added.
Noting investors’ contribution to Abbay Dam is not exceeding from 50%, the chairperson mentioned that insufficient payment alternatives and interest-related issues are contributed to the business community’s limited role in the fundraising. “However, now a day, there are many alternatives to enable the Diaspora community, investors, and every segments of the society to be active participant on the mega project.”
Ethiopian Electric Power CEO Ashebir Balecha (Eng.) on his part said that Abbay has 70% share in the country’s water resource and entails 65% of hydro potential. Besides, Abbay is the source of 86 % of water for lower basin countries. “However, 45 % the Ethiopian population has no access to electricity so far.”
According to the CEO, Tana Belese and Tis Abbay generated power from Abbay streams whilst Beshalo, Karadilo, Muabil, and Mandiya, which are located in the upstream of the Abbay basin, are in the pipeline to generate electricity.
Ashebir also said that Ethiopia could generated40, 000 megawatt of electricity upon full utilization of the Abbay Dam. So far, 10.7 metric cubic concrete was fully filled and the concrete saturation has reached 93%. “The overall execution of the Abbay Aam is reached 96% and the project’s completion is relied on the active involvement and support of the business community and other members of the society at large.”
BY MESERET BEHAILU
THE ETHIOPIAN HERALD SATURDAY 15 JUNE 2024
