Ethiopian Investment Holdings (EIH) has signed an MoU with Great Horn Investment Holding to co-invest in petroleum storage facility in Djibouti, EIH announced. The joint investment will be "the first of a series of investment undertakings that will help relieve one of the major constraints of Ethiopia's and the region's economy," EIH stated in a tweet.

EIH further related the co-investment at Damerjog Oil Storage Facility, Ethiopia and Djibouti "have signaled that their relationship has graduated from mere trade to building together," saying the two neighbors "will recover and usher in a new era of faster, more inclusive and holistic growth."

Starting with the transport and logistics system, EIH has expressed commitment to continue co-investing in soft and hard infrastructure that will help "confront the challenges of today and tomorrow."

Set up in February this year with a mandate to "cooperate and participate with domestic and foreign counterpart funds and financial institutions", Ethiopian Investment Holdings aims to serve as a strategic investment wing of the government with an authorized capital of 100 billion birr.

Source (Including Image): Ethiopian Investment Holdings (Twitter)