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 It was said that most of the bonds sold for Renaissance Dam (more than 14 billion birr) have been returned to the people.

It is known that the Ethiopian Development Bank has been selling bonds to individuals and institutions for the construction of the Great Renaissance Dam for nearly 14 years.

For example, from the beginning of the dam to June 30, 2016, bonds worth 17.4 billion birr were sold domestically, and 1.4 billion birr bonds were sold to Ethiopians and Ethiopians abroad, totaling 18.9 billion birr, according to the annual report of the Dam Coordination Project Office.

The Development Bank, which manages the bond sale; He said he is returning the money if the bond has reached its maturity date.

He said that out of the nearly 19 billion birr bonds sold in 14 years, he will return 14 billion birr to the individuals and institutions who bought the bonds.  

We asked the capital market director of the Ethiopian Development Bank, David Amare, about the issue.

They told us that it is possible to take from institutions bought by children with a few dollars their families give them to bonds worth millions of dollars if they are kept for 5 years or more in an internal procedure.

There will be interest every 6 months, those who don't want to take can extend the period of taking, in this way we are treating them according to their choice.

The development of the Renaissance bond, which was once considered a fad, has become more and more popular with buyers. He said that to complete the construction of the dam, "only enough money is needed to buy a plate for the food to be prepared and eaten".

In order to collect this money, the purchase of new bonds, which has been particularly stagnant, has been requested to be strengthened, whether domestically or abroad.

It is said that there are new financial institutions that were established when the bond sales are said to be slowing down and have not yet contributed anything to the construction of the dam.

We will collect the remaining money by making these institutions to buy bonds, those who have bought them to renew them, and financial institutions that have promised to donate money to fulfill their promises; Ato Dawit Amare, Capital Market Director, Development Bank.

You bought bonds for the dam contribution at different times. If the bond you bought is 5 years or more, you can withdraw your money from the place where you bought it.

However, as money is needed for the construction work, instead of taking the money, it is better to extend the period of taking it for more years, he said.