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Ministry of Foreign Affairs Plans to sell dam bonds worth $6.5M

Ethiopian workers construct on March 31, 2015 the Grand Renaissance Dam near the Sudanese-Ethiopian border. Ethiopia began diverting the Blue Nile in May 2013 to build the 6,000 megawatt dam, which will be Africa's largest when completed in 2017. The leaders of Egypt and Ethiopia promised on March 24 to boost cooperation on the Nile river and turn a page on a long-running row over Addis Ababa's controversial dam project. Egypt, heavily reliant for millennia on the Nile for agriculture and drinking water, feared that the Grand Renaissance Dam would decrease its water supply. AFP PHOTO / ZACHARIAS ABUBEKER (Photo credit should read ZACHARIAS ABUBEKER/AFP/Getty Images)

Addis Ababa (HAN) September 19.2016. Public Diplomacy & Regional Security News. The Ministry of Foreign Affairs (MoFA) plans to sell Grand Renaissance Dam bonds worth 6.5 million US dollars for Diaspora Ethiopians this Ethiopian fiscal year.

Tewolde Mulugeta, Spokesperson at MoFA, told FBC that his ministry has finalized preparations aimed at attaining the plan.

The ministry had conducted hundreds of consultations with Ethiopians and foreign nationals of Ethiopian origin residing abroad on issues related to the dam and other national development activities he said.

The Ministry sold 5.6 million US dollars worth bonds last fiscal year. However, the plan was to sell bonds worth 6.2 million US dollars.

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