The World Bank has preliminarily agreed to participate in tripartite negotiations over the Grand Ethiopian Renaissance Dam (GERD), Al Masry Al Youm reports, citing unidentified sources. The bank’s participation in the talks, which Foreign Minister Sameh Shoukry had proposed during a visit to Addis Ababa last month, would be in a technical capacity to solve disagreements between Egypt, Sudan, and Ethiopia over the construction of the dam. Ethiopian Foreign Minister Workneh Gebeyehu had not commented on Shoukry’s proposal. The World Bank is expected to reach a final decision on its participation before Ethiopian Prime Minister Hailemariam Desalegn visits Cairo this month, according to the sources.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
FRA and EGX eye law change to let LLCs and partnerships set up investment funds
Regulators want to keep Egyptian money from setting up funds…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…