Addis Ababa: The economic impact of the Grand Ethiopian Renaissance Dam (GERD) extends beyond Ethiopia and is poised to significantly stimulate economies and foster integration within the region, according to Institute of Foreign Affairs (IFA) Deputy Executive Director, Bereket Diriba, who spoke with ENA.
According to Ethiopian News Agency, Bereket emphasized that the completion of the dam is expected to have a transformative impact on neighboring countries by enhancing development opportunities. The deputy executive director outlined that the GERD is a crucial project for advancing regional economic integration, particularly in the context of hydropower infrastructure development.
Bereket noted that the dam would play a vital role in facilitating integration through improved energy access. He highlighted that the dam's capacity to generate electricity could create immense opportunities for collaboration and development across the region. He stated, "GERD enhances the regional economic integration which Ethiopia has already been undergoing with countries of the region, particularly in infrastructure development. When the dam completes soon and begins to fully generate electric power, it will bring immense opportunity for countries of the region."
Bereket expressed optimism about the potential for increased investment in the manufacturing sector within the region, as the additional power generated by the dam is anticipated to alleviate prevalent power shortages, creating a more conducive environment for industrial development. He noted that GERD would attract foreign and domestic investors, thereby stimulating regional economies.
The deputy executive director stressed that addressing energy deficits through GERD would enable neighboring nations to harness their development potential, fostering a collective economic uplift that benefits the entire region. Furthermore, Bereket expressed his belief that neighbors would support Ethiopia's development endeavors, recognizing the shared interests arising from enhanced energy production and distribution as crucial for sustained economic progress and stability in the region.
Bereket concluded by underscoring that GERD is not merely a flagship project but a transformative force for regional development and integration, and he underlined that the future of regional economic integration looks promising as Ethiopia and its neighbors work together to harness the opportunities ahead.