Ethiopia to use Eritrea’s Assab Port with local currency

asseb port
asseb port
23 Jan 2021 – (EP) Ethiopia to use Eritrea’s Assab Port (pictured) with local currency in accordance with foreign exchange value, a source tells Eritrean Press.
The ‘win-win’ solution under final discussion between the two sisterly countries includes the Birr’s value paid to Eritrea will be pegged to the U.S. dollar.
In return, Eritrea will use the Birr and its Nakfa currency to import electricity, services, and other commodities.
Meanwhile, Eritrea will start construction of electrical transmission lines in 2022 to connect its grid to Ethiopia’s. The construction of the transmission lines will be funded by the World Bank using grants.

2 Comments

  1. It is too late to utilize the strategic & economic benefits of Assab & Massawa port; since paying million of dollars to Djibouti port has been a chronic and led to shortage of USD. Immediate action needed.

  2. It definitely is a win-win situation for both countries. I hope it comes into operation without a hitch as soon as possible.Let us not forget we werte one people before independence of Eritrea at the insistence and facilitation by TPLF. If we collaborate, we will grow together and benefit our ever increasing populations.

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