Tigrai Online, Sept 14 2012
Ethiopia should slow the construction of Africa’s largest hydropower plant to avoid the dam and other projects starving the rest of the economy of funds, the International Monetary Fund said.
The government began work on the Grand Ethiopian Renaissance Dam, situated on the Blue Nile River near the Sudanese border, in April last year. The 80 billion-birr ($4.5 billion) project that will generate 6,000 megawatts, partly for export to the region, is scheduled to be completed in 2018.
“I think there’s a need to rethink some of those projects a little bit to make sure that they don’t absorb all domestic financing just for that project,” IMF country representative Jan Mikkelsen told reporters yesterday. “If you suck in all domestic financing to just a few projects that money will be used for this and not for normal trade and normal business.”
Ethiopia’s government won’t reschedule construction of the Grand Renaissance dam, said Communications Minister Bereket Simon, who co-chairs a fundraising committee for the plant.
“It was a well-considered plan and it’s one of the mega projects for which the government commits itself unconditionally,” Bereket said in a phone interview yesterday. “This is the brainchild of the late prime minister and we want to show commitment to his vision,” Bereket said.
The people at IMF are more worried about the Egyptian economy more than the Ethiopian Economy. The Egyptians are working behind the curtain day and night to stop the Grand Ethiopian Renaissance Dam and to keep Ethiopia poor and backward. For the past century Egypt was using direct threat of military attack. Tigrai Online had published a recently leaked documents from Wikileakes indicate that Egypt was looking to build a small military base in Sudan close enough to the Ethiopian border to attack the the Grand Ethiopian Renaissance Dam.
The Egyptians learned the military option is futile so they shifted their energy to diplomacy pressuring the IMF to release this useless statement. What they should know is this dam has nothing to do with anyone including the IMF so keep your colonial stinking nose from our DAM.
The Grand Ethiopian Renaissance Dam is conceived by Ethiopians, financed by Ethiopians and IT WILL BE BUILT BY ETHIOPIANS!.