Skip to main content
main-content
Top

Hint

Swipe to navigate through the chapters of this book

2019 | OriginalPaper | Chapter

11. Financing the Grand Ethiopian Renaissance Dam

Authors: Wossenu Abtew, Shimelis Behailu Dessu

Published in: The Grand Ethiopian Renaissance Dam on the Blue Nile

Publisher: Springer International Publishing

share
SHARE

Abstract

The Grand Ethiopian Renaissance Dam (GERD) is estimated to cost close to 5 billion US dollars, about 7% of the of the 2016 Ethiopian gross national product. The lack of international finance for projects on the Blue Nile River have had long been alleged to Egypt’s persistent campaign to maintain presumed hegemony on the Nile water share. Ethiopia is forced to finance the GERD with crowd funding through internal fund raising in the form of selling bond and persuading employees to contribute a portion of their incomes. Despite the domestic success in fund raising, the contribution of Ethiopians and Ethiopian descent living abroad was met with scepticism due to the political environment in Ethiopia. The Chinese government is providing significant amount of international finance to the hydropower infrastructure. Gulf States were also claimed to contribute to the construction of the Dam along the Middle East political line with respect to their relationship with Egypt. Opposition to the government is intertwined with opposition to the fund raising for the dam. The dam is completed over 70% by the end of 2017 and strain of cash is being reported. The successful completion of GERD without explicit support from western financial institutions will have a significant impact on the perception and awareness of Nile water development. The parallels between the planning, construction and financing of High Aswan dam and GERD are stark reminders of critical role of international community to promote co-operation and avoid unintended and lasting ripples on the socio-economic and political landscape of the region.

To get access to this content you need the following product:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 69.000 Bücher
  • über 500 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Testen Sie jetzt 15 Tage kostenlos.

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 50.000 Bücher
  • über 380 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




Testen Sie jetzt 15 Tage kostenlos.

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 58.000 Bücher
  • über 300 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Testen Sie jetzt 15 Tage kostenlos.

Literature
go back to reference Degefu GT (2003) The Nile historical legal and developmental perspective. Trafford, Victoria, Canada Degefu GT (2003) The Nile historical legal and developmental perspective. Trafford, Victoria, Canada
go back to reference Ighobor K, Bafana B (2014) Financing Africa’s massive projects. Africa Renewal Online, Dec 2014 CrossRef Ighobor K, Bafana B (2014) Financing Africa’s massive projects. Africa Renewal Online, Dec 2014 CrossRef
go back to reference Institute of Development Studies (2013) Churning waters: strategic shifts in the Nile basin. Institute of Development Studies. UKAID, Issue 4, Aug 2013 Institute of Development Studies (2013) Churning waters: strategic shifts in the Nile basin. Institute of Development Studies. UKAID, Issue 4, Aug 2013
go back to reference Swain A (2014) The grand Ethiopian renaissance dam: evaluating its sustainability standard and geopolitics. Energ Dev Front 3(1):11–19 Swain A (2014) The grand Ethiopian renaissance dam: evaluating its sustainability standard and geopolitics. Energ Dev Front 3(1):11–19
Metadata
Title
Financing the Grand Ethiopian Renaissance Dam
Authors
Wossenu Abtew
Shimelis Behailu Dessu
Copyright Year
2019
DOI
https://doi.org/10.1007/978-3-319-97094-3_11