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Nile-Basin States Egypt investments in Ethiopia hit $1 billion – Global Arab Network

April 9, 2010

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Egypt (Cairo) – Egypt’s investments in Ethiopia hit $1 billion this year, and are expected to double in 2011, which will help boost cooperation between the two sides, Egyptian Minister of Irrigation and Water Resources Mohamed Nasreddin Allam said

Addressing a rally in Port Said, Allam said that efforts currently exerted by Egypt aim at activating cooperation with the Nile-basin countries. Pointing out that cooperation among the Nile-basin countries is a strategic goal.

He underlined the necessity of cooperation between the riparian nations and understanding each country’s need to water, pointing out that Egypt’s investments in Ethiopia hit $1 billion this year, and are expected to double in 2011, which will help boost cooperation between the two sides, the minister said.

Allam said that the Higher Council for Nile Protection would convene within days under Prime Minister Ahmed Nazif to look into a new policy to avoid the dangers of transporting hazardous materials by river, like petroleum products, he added.

He also pointed out that the negative impacts of climatic changes on the Nile River are currently under study to draw the scenarios of dealing with these repercussions.
(SIS)

Global Arab Network

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