Ethiopia Indirectly Pays Eritrea Half a Billion Dollars a Year – According to an Ethiopian
26 Nov 2017 – The Port of Djibouti is leased to the United Arab Emirates (UAE) Dubai Port Authority, also known as DP World, for 30 years, with an option to extend the lease for another 20 years. Djibouti’s port is often referred to as “Ethiopia’s umbilical cord” due to all western aid going to Ethiopia flows through the port.
According to Addis Fortune newspaper published in Ethiopia, up until 2008, Ethiopia was paying $850 million dollars to UAE’s DP World in port fees, annually. Then in mid-2008, Ethiopia saw a sudden increase of up to 25% in marine charges, and another 15% in container storage fees, adding $210 million dollars to its annual obligation, for a total of $1 billion dollars a year. SCARY!
The UAE, as part of its national security strategy to protect its oil shipping routes in the Red Sea, it was granted access to dock its naval fleet and jet fighters at the Eritrean port of Assab’s newly built state-of-the-art port facility and air port for a small fee of $500,000,000 (Half a Billion dollars) a year.
Pay attention now: The UAE collects $1 billion dollars from the Tigray Weyane [current Ethiopian rulers] and gives half of the money to Eritrea for hosting its military fleet. It appears as though the Tigray Weyane are indirectly paying Eritrea Half a Billion dollars a year without having to set foot in Assab. HOW HUMILIATING!
As if that wasn’t bad enough, there are credible rumors about Eritrea’s plans to start drilling its first offshore oil and gas exploration with the help of the UAE, estimated to bring tens of billions to Eritrea’s national economy. We are talking about the New Dubai in the Horn of Africa. Wow! How exciting for us to live next door to Dubai!
I can hear you asking,…so… what’s in for us Ethiopians? Well, there’s a good news!
I was recently reading court documents about a lawsuit filed in a UK court by Djibouti’s first crime family against its former port manager, Abdourahman Boreh, accusing him of bribery, and when the British judge asked Mr Boreh why the plan to expand the Djibouti port did not materialize, he responded by saying something to this effect…..
“….the plan to expand the Djibouti port did not make sense in light of current events in Ethiopia where, due to nationwide mass protests, the Ethiopian regime is on its last legs, and I believe that the country under the soon-to-be new government will most likely make peace with its neighboring Eritrea and go back into using the Assab port for a small fee, thus making the Djibouti’s port significantly less relevant to the Ethiopian market. ”
There you have it. Every cloud has a silver lining.