Ethiopia, Sudan and Egypt agree joint development fund

Ethiopia, Sudan and Egypt have agreed to the creation of a joint fund to bankroll the implementation of development projects in the three countries.

The agreement was reached during a summit between Ethiopian Prime Minister Hailemariam Desalegn, Sudanese President Omar El-Bashir and President Abdel Fattah Al-Sisi of Egypt on the fringes of the Business for Africa, Egypt and World Forum in the Egyptian resort of Sharm Al-Sheikh on Saturday.

According to Egyptian Presidency Spokesperson, Alaa Youssef, the three parties agreed to create a mutual fund for developmental projects across the three countries.

They also agreed to form political, economic, social, and cultural committees to monitor the progress of cooperation in the different fields.

Furthermore, the three countries agreed to encourage meetings between their respective parliaments to deepen their understanding and cooperation on the public level.

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