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Egypt, Ethiopia to Sign Nile Dam Agreement by End of February
CAIRO (Capital Markets in Africa)- Egypt and Ethiopia will sign a final agreement on the schedule for filling a reservoir on the Nile River by end of February, which would potentially ease tensions between two of the U.S.’s African allies over the use of crucial water resources.
The accord that includes mutual neighbor Sudan will spell out filling mechanisms in relation to the Grand Ethiopian Renaissance Dam in drought, prolonged drought and prolonged periods of dry years. Ethiopia is due to start letting water into the reservoir with more than 70 billion cubic meters of capacity in July.
The technical and legal teams are expected to prepare final agreements by the end of February, according to a joint statement following four days of meetings in Washington between officials from the three African nations, the World Bank and the U.S. Treasury.
Egypt and Ethiopia — both with populations of about 100 million people and the fastest-growing economies in their respective regions — say the future of the Nile is a matter of national security, though officially dismiss any prospect of the dispute triggering a war. The GERD, which is set to be Africa’s biggest hydropower project when completed, sits on the Blue Nile, the main tributary of the world’s longest river.
U.S. Treasury Secretary Steven Mnuchin intervened late last year to convene talks after Egypt said there was a deadlock in earlier negotiations, something Ethiopia disputes. The World Bank also joined the meetings, which initially had a Jan. 15 deadlines for a solution.
President Donald Trump called Ethiopian Prime Minister Abiy Ahmed on Friday expressing optimism over an agreement on the Nile dam project, the White House said.
How and when to fill the reservoir is a process key to ensuring a reliable flow to Egypt, which depends on the Nile for almost all its freshwater. Ethiopia wants it to happen as quickly as possible to produce the electricity vital to its economic plans.
Source: Bloomberg Business News