Ethiopia Raises $25 million For Addis Upgrade

The Prime Minister of Ethiopia Abiy Ahmed is overseeing fundraising efforts to secure finance for investing in an upgrade for the country’s capital, Addis Ababa.

To date more than $25 million has been secured for the project from supporters including the Government of Italy, the United Nations, and the African Development Bank (AfDB), as well as a large number of local donors. Total investment of $1 billion is targeted. 

The ‘Beautifying Sheger’ project is a three-year initiative headed by the Office of the Prime Minister seeking to uplift the capital through a series of infrastructure projects that include the expansion of green spaces and retail areas.

Key to the effort have been fundraising dinners, for which tickets are reported to have been priced at more than $175,000 per person. During one event looking to raise funds for Ambo, which lies 100km west of the capital, the Prime Minister is reported to have sold his watch for $175,000.