Third-Phase GERD Filling Wraps Up

Aug 13 , 2022


The third phase of filling the Great Ethiopian Renaissance Dam (GERD) wrapped up last week. The reservoir has thus far stored 22 billion cubic metres of water, less than a third of its total capacity of 74 billion cubic metres. Two of the Dam's 13 turbines are operational, generating 540mw of power. When the Dam begins operating at full capacity, each turbine will generate 375 megawatts of power. The dam first began generating electricity in February this year. A decade ago, the late Prime Minister Meles Zenawi launched the construction of Africa’s largest dam in the village of Guba, some 20Km from the Sudanese border. Ethiopia's power generating capacity remains at 4,300mw, 90pc of which comes from hydropower dams located on nine of its major rivers.


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Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


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Authority Reports Fuel Import Stats

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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


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