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A loan agreement amounting €117.3 million has been signed between Ethiopia and the Danske Bank A/S for the 100MW Assela wind farm project.

The agreement was sign by Ahmed Shide, Ethiopia’s Minister of Finance and Mr. Jelsper B. Petterson and Olaf S. Mark schet, Director and Associate Director of Danske Bank A/S, respectively.

The total contracting amount of the project is €146 million, of which €117 million loan will be covered by the Danske Bank A/S, according to a statement issued by the Ministry of Finance.

The Danida Business Fund (DBF), administered by the Investment Fund for Development Countries on behalf of the Government of Denmark, committed to contribute €28.70 million cash grant for the project.

In addition, DBF will subsidies the interest rate, Bank Margin, and EKF premium expenses of amounting €66 million euro. The DBF total support in terms of the grant, including the cash grant, is €94.7 million.

The financial support for the project is part of the Danish development assistance to Ethiopia, the statement added.

Foreign Minister Gedu Andargachew said that Ethiopia will never accept any agreement that restricts her water rights to River Abay in guise of negotiations.

In an interview with ENA, Gedu said Ethiopia, Sudan and Egypt have not yet reached an agreement concerning legal issues despite nearing understanding on technical issues.

Ethiopia is now discussing with the two riparian countries only the construction process of the Grand Renaissance Dam not issues related to her rights to utilize the River Abay for development issues, Foreign Minister Gedu noted.

Egypt has been trying to restrict Ethiopia’s water rights to utilize River Abay in guise of negotiations during the trilateral talks, according to Gedu.

Saying that GERD is a single issue out of the concepts related to reasonable use of Abay or Nile River, Gedu added that utilization of Nile waters should be treated with perspectives of the cooperative framework agreement which has been agreed up on by  riparian countries so far.

Egypt broke up the trilateral negotiation which was being held adhering to International Water Laws and principles of fair and reasonable use of Nile Waters, Gedu added.

Six countries including Ethiopia have signed Cooperative Framework Agreement out of which four have ratified it in their parliaments and incorporated as national law, Gedu explained.

Gedu stressed Ethiopia is privileged by the agreement to utilize the River Abay for development purposes based on fair and equitable manner.

Responding inquiries regarding statements issued by the US and other international organizations on GERD, Gedu said “It would be better if they refrain from making such announcements.”

“No internal or external force can stop Ethiopia from filling the dam”, Gedu retreated.

The annular solar eclipse has been partially and fully seen in several parts of Ethiopia starting from this morning.

The solar eclipse has been observed at places in and around Lalibela, Enjibara and Alamata towns and Bahir Dar City Surroundings among other districts in Oromia, Amhara and Tigray Regional States.

Heritage Management Division Head at Lalibela city Administration Culture and Tourism Bureau, Habtamu Tesfaw said the solar eclipse began in the twon at 6:00 AM in the moring and finished at 8:00 Am local time, and observed by dwellers of the area and visitors from across the nation.

The solar eclipse has also been observed from parts of Africa and Asia, including the Central African Republic, Congo, Southern Pakistan, northern India, and China.

The solar eclipse occurs when the sun, moon and earth are aligned, and the annular eclipse is when the moon covers the sun’s center, leaving the sun’s visible outer edges often referred to as the “ring of fire”.

ለመርዳት በቂ ምክኒያት አለዎት:: ህይወት ይታደጋል:: እናመሰግናለን!

You don’t need a reason to help. It saves lives. Thank you!

https://covid19.ethiopianembassy.org/

በአስፈላጊ ወቅት ለወገንዎ ስለደረሱ እናመሰግናለን::

We are grateful to you for your help in this difficult time –

https://covid19.ethiopianembassy.org