Ethiopia to defy Egypt and build huge Nile dam

The Great Nile dam construction is scheduled to commence presently near the Ethio-Sudan border," Water and Energy Minister Alemayehu Tegenu told a news conference. "From this dam alone, Ethiopia expects to generate 5,250MW." Alemayehu said Ethiopia would be forced to finance the $4.78 billion dam from its own coffers and from the sale of government bonds because Egypt was pressuring donor countries and international lenders not to fund its dam projects. Read more…