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.