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(Ecofin Agency) Grand Renaissance dam crisis: Eritrea at the rescue

Posted by: Semere Asmelash

Date: Friday, 12 January 2018

Grand Renaissance dam crisis: Eritrea at the rescue

Grand Renaissance dam crisis: Eritrea at the rescue

Friday, 12 January 2018 - 13:20

(Ecofin Agency) - Egypt has found in Eritrea a new ally in the resolution of the regional crisis caused by the construction of the Grand Renaissance hydroelectric dam. “The two parties have agreed to pursue an intensive cooperation and face the current issue to maintain security and stability in the area”, said Bassam Radi, Egypt’s spokesman, during the visit of Isaias Afeworki, the Eritrean president, in the gift of the Nile.

Indeed, the Region is subject to geopolitical tensions due to the construction of the above-mentioned infrastructure. According to Egypt, the construction of this dam, upstream of the Nile River, will reduce the flow of that river, which is the main source for clean water supply in the country, to its side.

Sudan which was the mediator between both countries has been ejected from the resolution process by Egypt since it was suspecting this mediator of being in favor of Ethiopia. Following this, Cairo suggested the World Bank as the new mediator but, doubting the institution’s impartiality, Adis Ababa rejected this suggestion.

The 6,400 MW Grand Renaissance dam which should cost more than $4 billion, has been fully financed by Ethiopians and their government and, it is now completed at 70%.

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