Embassy of The Federal Democratic Republic of Ethiopia

PRESS RELEASE

Ethiopians Form Great Renaissance Dam Diaspora
Participation Coordination Council

October 10, 2011 - LONDON

Ethiopians and foreign nationals of Ethiopian Origin in the United Kingdom have set up a Diaspora Participation Coordination Council for the Great Renaissance Dam, now under construction with resources mobilized by Ethiopians both at home and abroad.

In his keynote address at the inaugural Council meeting, H.E. Berhanu Kebede, Ambassador of Ethiopia to the United Kingdom said, the Council is tasked with soliciting gifts and the sale of bonds for the construction of the Renaissance Dam, instrumental for the success of the Five Year Growth and Transformation Plan at the core of which is a faster rate of economic growth relying on a sufficient power supply.

The dam, he noted, fully owned by Ethiopians, symbolizes Ethiopia’s future as decided by its hard working and peace loving people.

Tasked with keeping the momentum and the inspiration the construction of the Dam has created among Diaspora Ethiopians, the Council is also entrusted with the responsibility to forge further consensus on issues of national development.

A short briefing on the requirements for the purchase of the bond, interest rates, procedures and options to buy bonds and other related issues was given by Ato Demeke Atnafu, Head of Community Affairs at the Embassy.

Participants at the meeting have discussed and enriched the proposed Statute which they endorsed unanimously and clarifications were given for queries related to the features of the Government guaranteed bond.

Diaspora Ethiopians residing in the UK have pledged funds in the region of 500,000 birr through gifts and bond purchases as part of the nation building effort which Council members assured would be reinforced under its auspices.

The Council has named an Executive Committee, a Chairman and a General Secretary in addition to ratifying its Statute and Action Plan.

Announced in the Council’s action plan, the first Bond Selling Day will take place here in London on 29th October, when Ethiopian Diaspora from all walks of life will convene to join in fund raising for the Renaissance Dam which is slated to cost about 5 billion dollars, and which will have the capacity to generate 5270 MG of power.

The Council, comprising of Ethiopians from a variety of civic and development associations, religious groups, artist groups, professional associations, business organizations, renowned personalities, academics, youth and women associations and other pertinent groups, was launched on 8th October during its first meeting at the Ethiopian Embassy in London.

For further information please contact the Press Office on 0207 838 3880/3 or send an email to info@ethioembassy.org.uk.