The Grand Ethiopian Renaissance Dam: The $5B project that could turn Ethiopia into Africa's water powerhouse

The Grand Renaissance Dam is under construction on the Blue Nile River in Ethiopia. It is claimed it will generate 6000 MW of energy when completed.

It’s called the Grand Renaissance Dam — and the clue is in the name.

With some 8,500 laborers working around the clock on its construction, the imposingly-named dam is surely one of Africa’s most ambitious infrastructure projects, reaffirming
Ethiopia‘s ambitions of becoming a big regional player and a major exporter of power.

When completed, the project will generate around 6,000 megawatts of electricity for both domestic use and exports.

The most striking aspect of the nearly $5 billion enterprise is, however, that it is entirely funded by Ethiopia, without any foreign investment. According to the authorities, 20% of the project is financed from bond offerings to Ethiopians, and the remaining 80% from tax collection.

Read more: Ethiopia's $5bn project that could turn it into Africa's water powerhouse – CNN.com.

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