Back to the complete issue
Wednesday, 29 August 2018

Shoukry, Kamel meet Ethiopia’s Abiy Ahmed to discuss GERD, kicking off development projects

Shoukry, Kamel meet Ethiopia’s Abiy Ahmed to discuss GERD, kicking off development projects: Foreign Minister Sameh Shoukry and intelligence chief Abbas Kamel met with Ethiopian Prime Minister Abiy Ahmed in Addis Ababa yesterday to discuss the latest developments in the Grand Ethiopian Renaissance Dam (GERD), according to a ministry statement. The statement does not delve further into the outcomes of these talks. Egypt and Ethiopia had agreed in June on adopting a “joint vision” on GERD’s construction, which would see Ethiopia catering its timeline of filling the dam to Egypt’s needs in exchange for economic cooperation. The two sides also looked into activating a joint investment fund that will be set up alongside Sudan to finance infrastructure projects.

This came as Addis Ababa reportedly cancelled a contract for the installation of turbines at the GERD with the Ethiopian military-run Metals and Engineering Corporation (Metec), citing repeated delays in implementation, David Philling writes for the Financial Times. Abiy had said earlier this week that the delays could push the start of operations at the dam to 2020.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.