The GERD Project Coordination Office informed that when the hydroelectric project, which is considered Africa’s biggest dam, was launched 14 years ago, the initial cost was estimated to be similar to the amount currently required to complete it.

The source stated that the Ethiopian public voluntarily contributed over 20 billion birr (158.353.127 million dollars) towards the construction of the dam. The plan, this year, is to raise an additional 1.6 billion birr (12.668.250 million dollars).

As part of the fundraising efforts, a program involving banks, insurance companies, and credit and savings institutions was held on Friday. Although the event aimed to collect 110 million birr (870.942 dollars), only 25.9 million birr (205.067 dollars) was raised at that time.

Currently, GEDR is generating 1,200 megawatts of electricity using two turbines. Upon completion, the dam’s electricity generation capacity is expected to reach 5,150 megawatts, which will be a significant boost to Ethiopia’s energy sector.

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