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Egypt plans to file an international lawsuit in an effort to protect Egyptian investments in Ethiopia that have been negatively affected by unrest in the country’s Tigray region, an official said.
Egyptian investors so far have lost more than $ 10 million in Ethiopia. After meeting with Ethiopian officials to discuss the matter last week, the head of Egypt’s Industrial Zone in Ethiopia, Alaa Al-Saqati, said no satisfactory response was given to allow factories to resume production, leaving them closed. for more than four months.
“Egyptian investments worth about $ 600 million are threatened in Ethiopia because Ethiopia did not facilitate the work of investors in various regions.” Investments are also affected by the complications of the Great Renaissance Dam crisis. Ethiopia, explained to Iram News. He said he expected Egyptian investments in Ethiopia to increase if an agreement is reached between Cairo and Addis Ababa on the archive of the dam.
Ethiopia is building a $ 5 billion dam near the border with Sudan that it says will provide the country with much-needed electricity and economic regeneration. Egypt believes it will restrict its access to the waters of the Nile.
Egypt is almost entirely dependent on water from the Nile, receives around 55.5 million cubic meters a year from the river, and believes that filling the dam will affect the water it needs for drinking, agriculture and electricity.
READ: Sudanese Prime Minister visits Ethiopia to discuss the Tigray struggle
Cairo wants Ethiopia to guarantee that Egypt will receive 40 billion cubic meters or more of Nile water. Ethiopia’s Irrigation Minister Seleshi Bekele said Egypt has dropped this demand, but Egypt insists it has not and issued a statement to that effect.
There is also an unsolved problem about how quickly the dam will fill, and Egypt fears that if it fills up too quickly, it could affect the electricity generated by the Aswan Dam.
Clashes in Ethiopia’s Tigray region pitted the federal government against regional authorities last month.
Ethiopia’s Prime Minister Abiy Ahmed declared victory in the fight. However, the fighting has continued.
The fighting in Tigray has prompted more than 52,000 Ethiopian refugees to flee to Sudan, the majority in Al-Qadarif.
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