Ethiopia has secured funding for development of the 2000MW Koysho Dam on the lower banks of the Omo River in the south of the country.

Italian export credit agency, Servizi Assicurativi del Commercio Estero (SACE) has agreed financing for the US$1.7 billion project, the Ethiopian Embassy in London has confirmed.

Under a new 2015-2020 development plan, Addis Ababa wants to raise output to 17,346MW from a current capacity of just over 2200MW, from hydropower, wind and geothermal sources. Ethiopia’s bid to tap several rivers for power generation will boost manufacturing and industrialise its agrarian economy, Prime Minister Hailemariam has said.