Informed sources in Khartoum have revealed that Sudan is to establish a tripartite investment fund with Ethiopia and Egypt, Quds Press has reported. The move comes in the context of an agreement signed by the leaders of the three countries earlier this year in the Ethiopian capital Addis Ababa.
High-level delegations from each of the three have held meetings at the headquarters of the Banque du Caire in the Egyptian capital over the past two days. The aim is to activate the political directives of the state leaders.
"The tripartite discussions tackled all issues related to the establishment of the fund, particularly its objectives, structure, governance, management and funding," said the Banque du Caire. "They agreed to identify contact points from each of the three countries to intensify consultation between them in the coming weeks, in preparation for holding the second round of meetings."
The Egyptians welcomed the opportunity to host the next round of discussions on the sidelines of the annual meetings of the Association of African Central Banks (AACB), scheduled to be held in Sharm El-Sheikh from 5 to 9 August.