Lake Shores Foresee Economic Upturn

Jan 21 , 2023

A project to develop water resources such as Tana and Zeway lake shores and motor boat facilities is approved with the ambition to turn water resource utilisation policies into effective practical actions. Under the Blue Economy Strategy, the Swedish government funds the project approved at a workshop organised by the Intergovernmental Authority on Development (IGAD) and the Ministry of Transport & Logistics. Dagmawit Moges, the former Minister, believes the five-year strategy addresses economic and food insecurity challenges by developing and using water resources. Dagmawit chaired the meeting held at Bahir Dar city that saw the attendance of ministers and state ministers such as Nasise Chali and Fitsum Assefa (PhD), ministers for Tourism and Labour. The summit decided that the project shall be headquartered in Bahir Dar University because of its involvement in the maritime sector and its self initiatives to run the program. University President Firew Tegegne (PhD) said such initiatives contribute to the development and progress, mentioning the efforts to use hydroelectric potential to satisfy energy demand. Ministers from IGAD member states coordinating the Blue Economy approved the block's Regional Blue Economy Strategy nine months ago in Addis Abeba, recommending the organisation support domesticating it.  According to the project manager IGAD, Eshete Dejen (PhD), the project will create job opportunities and enhance the value of the ecosystem. Eshete described the blue economy covered areas from sea transport to lakes that will be developed through hydroelectric power plants. He noted fish production from such lakes is also part of the initiative, engaging the private sector and mobilising finance.