© AFP | A photo taken on March 31, 2015 shows the Grand Renaissance Dam under construction in Ethiopia near the Sudanese border
CAIRO - 5 July 2018: High-level delegations from Egypt, Sudan and Ethiopia met on July 3-4 in Cairo's Central Bank headquarters to discuss establishing a joint fund for investment and developmental projects related to the Grand Ethiopian Renaissance Dam.
The talks addressed all required topics concerning establishing the fund, especially regarding its goals, body, administration and budget.
The three delegations agreed on enhancing the discussion in the coming weeks to prepare for the second series of meetings regarding the fund.
The Egyptian delegation welcomed hosting the second series of meetings on the sidelines of the annual meetings of the Association of African Central Banks (AACB) set to be held in Africa from August 5-9.
The joint developmental fund will establish projects related to the Grand Ethiopian Renaissance Dam (GERD), according to Sudanese Foreign Minister Osama Faisal. The construction of the GERD is 65 percent complete, according to Minister Faisal.
Activating the fund will positively impact the relation between Egypt and Ethiopia, and will enhance mutual cooperation between the three states, said Khaled Abu Zeid, director of the water resources program in The Center for Environment and Development for the Arab Region and Europe (CEDARE).
Abu Zeid added that the fund will also have a positive impact on the path of negotiations around the Ethiopian Renaissance Dam, which is under construction.
The three countries held talks over Ethiopia’s Renaissance Dam. Egypt has been concerned by the probable negative impact of the dam on the state’s water share, as it may decrease water supply to Egypt. Ethiopia denies the claims.
Sudan, on the other side, supports the 6,000 MW dam, as it will provide electricity, boost irrigation, and regulate floods, according to Reuters.
Some Ethiopian scholars and researchers said in 2013 that the dam will enable Sudan, whose border is just 30 kilometers away from the dam, to save up to $20 million annually, Sudan Tribune reported.