The government of Ethiopia has invested more than $56 million in the construction of its Grand Renaissance hydroelectric plant, according to MelesAlem, spokesman for the Ministry of Foreign Affairs.
This funding has been made through the divestiture of more than two million Bonds of Treasures. This denotes the government’s keenness to integrate its nationals abroad in its development process.
The project, which had difficulties in obtaining external financial support, was financed entirely by equity from Ethiopia. Its implementation cost is over $4.7 billion and is already over 70% complete.
The transmission line to convey the production of the plant has already been completed. It cost $1 billion and was set up by China Electric Power Equipment and Technology.
Image by SaliniImpregilo