Ethiopia’s Hydropower Projects Attracting Global Financiers

Addis Ababa, January 9, 2013 — (WIC) — Performance of Ethiopia’s hydropower projects is attracting world’s leading financiers as the projects are interconnecting regional electric power grids, FBC quoted Chief Executive Officer of EEPCo, Mihiret Debebe as saying.

According to Mihiret, the increasing market for electric power has convinced international financiers to fund the projects. Such tendencies seem to help the country solicit the finance it seeks to run the projects.

Another reason attached to change of stance with the global financiers is good performance of the government in hydropower projects.

Spokesman of Ministry of Foreign Affairs, Ambassador Dina Mufti shared Miheret’s view saying the influence of the so called environmentalists is fading.

Such projects appear to promote regional economic integration and that is why the World Bank and African Development Bank (AfDB) are supporting the projects. Both banks show their support by financing the Ethio-Kenya Electric Power Transmission Line.