The Ethiopian National Council for the Coordination of Public Participation on the Construction of the Grand Ethiopian Renaissance Dam (GERD) said Ethiopians have so far contributed around $460 million towards the construction of the Dam, through various schemes including bond sales, athletic events and lottery draws.
Of the total, $4.9 million was from Ethiopians and foreign nationals of Ethiopian origin in the diaspora.
Construction of the $4.7 billion dam began in April 2011 and it is now 60% complete. When fully operational, it will generate up to 6,450MW of electricity. Preparations are underway to install two 375MW turbines for test power.
The dam is funded solely by domestic funds (from Ethiopians and foreign nationals of Ethiopian origin) and has been billed as a landmark project signalling Ethiopia's renaissance.
In other news from the project, Ethiopian Electric Power announced that 500kV high power transmission lines and distribution stations are in place, ready to carry electric power when the GERD starts generating.
Over 28 billion Birr was spent on the construction of the power distribution stations.
Source: Ethiopian Embassy in London.