Connect with us

Business News

€20 million programme for Eritrea – Ethiopia infrastructure upgrade2 minutes read

In July last year, Eritrea and Ethiopia signed a historic peace agreement ending 20 years of conflict.

News Central

Published

on

Eritrea's President Isaias Afwerki (L) and Ethiopia's Prime Minister Abiy Ahmed talk during the inauguration of the Tibebe Ghion Specialized Hospital in Bahir Dar - AFP

The European Union, has announced a €20 million programme to build 
roads linking Eritrea’s port cities and the Ethiopian border.

Commissioner for International Cooperation and Development, Neven Mimica launched the project meant to rebuild the road connection between the two neighbours.

During his visit, Mimica met with the President of Eritrea, Isaias Afwerki to discuss the situation in the region and explore political relations and dialogue for both countries.

In an official statement, Commissioner Mimica said: “The European Union 
is committed to supporting Eritrea and Ethiopia in delivering their historic peace agreement, which ended twenty years of conflict.

“To back this end, we are launching a €20 million programme to rebuild the roads connecting both countries. This will boost trade, consolidate stability and have clear benefits for the citizens of both countries through the creation of sustainable growth and jobs.”

The new project will be financed through the EU Trust Fund for Africa and through the United Nation’s Office for Project Services (UNOPS). It will refurbish road connections between the Ethiopian border and Eritrean ports to boost trade and create jobs.

This is the first phase of a broader support to Eritrea, which is planned to scale up later this year. This cooperation is part of the EU’s new dual track approach of strengthening political dialogue with Eritrea, notably encouraging political and economic reforms and improvement of human rights, as well as pursuing development cooperation to tackle root causes of poverty and to reinforce the peace agreement and economic integration.

In July last year, Eritrea and Ethiopia signed a historic peace agreement ending 20 years of conflict. This provides a major opportunity for economic development and stability in the region.

The rapprochement has already yielded benefits for the Eritrean  population, with re-opened borders, resumed communication and the  reduction in the price of basic commodities.

One of the commitments of the peace agreement is that ‘transport, trade 
and communications links between the two countries will resume.

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading
Click to comment

Leave a Reply

Business

Ethiopia, Sudan,Egypt inch closer to Nile water use deal

Published

on

Ethiopia, Sudan and Egypt have moved closer to formalising a water-sharing deal over the Nile after technical teams meeting in Khartoum drew up a draft agreement.

Following a consultative meeting on Thursday, the technical teams from the three countries say observations reached when the countries’ ministers met in Washington two weeks ago have been included.

There are expectations that the next round of discussions, due in Washington next week, could see a formal agreement signed on how to fill the Grand Renaissance Dam on the Blue Nile in Ethiopia, without affecting the needs of the riparian countries: Sudan and Egypt.

Muhammad Al-Sebaie, the spokesman for the Sudanese Ministry of Water Resources and Irrigation, says technical teams have pored over suggestions from all the three countries in an earlier January 13 meeting in Washington, under the auspices of the US Treasury and the World Bank. The Washington meeting is due on January 28.

Al-Sebaie says there had been some form of “convergence” such as initially filling up to a significant portion of its height (the dam is 155 metres high), to ensure electricity generation for Ethiopia. Thereafter, the subsequent filling will depend on weather conditions and there would be a joint implementation committee to oversee when to suspend filling, reducing volumes or surging the flow.

The key pillars in the agreement, he said, will be how to fill up the dam in stages, during the months of July and August, and in September based on drought or rain condition

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading

Business

Tanzania, Barrick sign new implementation deal

Published

on

Tanzania and Canadian mining giant, Barrick Gold Corp have signed an agreement to kick-start a new joint venture company overseeing Barrick’s future gold mining operations in the country, as a way forward following a year long impasse.
“Being a year now, we have finally completed the long journey of negotiations and renegotiations and agreed on nine key points that will underpin the activities of Twiga Mining company, a joint company between the Tanzanian government and Barrick,” Foreign Affairs Minister Prof Paramagamba Kabudi said at the signing held in State House in Dar es Salaam, and witnessed by President John Magufuli. 

No details were immediately available of the nine points highlighted in the new agreement which will oversee implementation of the original pact between Tanzania and Barrick dating back to October 2017 when former Barrick affiliate Acacia Mining was still running the Tanzanian operation of three gold mines in the country’s lake zone.

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading

Business

Nigeria to consider private power sector overhaul

Published

on

Following a national Economic Council meeting yesterday, The Nigerian government has announced that it will consider an overhaul of the private power sector.

The country’s power sector was privatized in 2013, but millions of Nigerians remain without access to power, with grids plagued by frequent blackouts, leaving businesses and consumers reliant on power generators.

Plans to build privately financed power stations have been railroaded in recent years by concerns of persistent shortfalls in payments for electricity across the sector.

Currently, the government-owned Nigerian Bulk Electricity Trading company (NBET) buys power from generators and passes it on to distributors who then receive payment from customers and reimburse NBET.

According to Nasir El-Rufai, Chairman of a committee set up by the NEC to harmonise the Power Sector Reform, the government looks to end the existing challenges and the committee’s request to begin the process of finding solutions is now approved.

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading

Trending