The World Bank does not finance the Grand Ethiopian Renaissance Dam (GERD) construction, Foreign Minister Sameh Shoukry, said, adding that no country directly finances the dam, but some foreign companies gain from funding the project. Shoukry said on Sunday earlier this week that Egypt would take “serious” measures to protect water security and deal with any irresponsible move by Ethiopia regarding the dam. Furthermore, Egyptian President Abdel Fattah al-Sisi urged cooperation from Ethiopia on GERD last week, warning that “all options are open”, following the failure of a fresh round of negotiation over the dam. The three parties have held several rounds of negotiations over the past decade, but have ultimately failed to reach an agreement. The construction of the dam, which began in 2011, is considered to be one of Egypt’s most serious water issues.

Source: Egypt Independent April 15, 2021 13:54 UTC