Cairo – Mubasher: Egyptian banks have not participated in financing Ethiopia’s Renaissance Dam, said Central Bank of Egypt (CBE) governor Tarek Amer on Sunday.
Egyptian banks did not buy bonds from the Ethiopian government with 36% interest rate to finance building of the Dam, the Middle East News Agency (MENA) reported, citing Amer as saying.
In mid-November, Egyptian Irrigation and Water Resources Ministry’s spokesperson Hosam Al-Imam stated that the technical negotiations with Ethiopia about the dam were halted.
Negotiations were put on hold as Ethiopia and Sudan want to change the Dam’s study on its harms to Egypt’s quota of the Nile’s water, Al-Imam added.
The study included technical and engineering regulations which are governing the consultancy office’s work, while preparing the report of the potential damages.
