EBRD Earmarks EUR 200 Million for Morocco’s New Port

first_imgzoom The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €200 million (USD 218 million) to Société Nador West Med to finance the basic infrastructure for a new port on the Mediterranean coast of Morocco, 30 km from the town of Nador.Société Nador West Med (NWM), a state-owned limited liability company incorporated in Morocco, is in charge of delivering the Nador West Med project.The development of the port is a major boost for eastern Morocco and is expected to promote the development of the Oriental region by generating economic growth and creating new jobs.The EBRD investment will contribute to the construction of a breakwater, quays, dredging and related infrastructure works in the port. During the port’s construction phase a number of environmental protection measures will be incorporated, including the reduction of the port’s carbon footprint by using a lower-carbon cement.In addition, €1 million of technical cooperation assistance funded by the EBRD Shareholder Special Fund and the SEMED Multi-Donor Account will provide management support, a lender’s monitoring consultant and will facilitate the implementation of the environmental and social action plan.The project is expected to be co-financed with the African Development Bank (AfDB) and the Arab Fund for Economic and Social Development, and would represent the EBRD’s first co-financing with either institution. A separate implementation agreement between the EBRD and AfDB will govern arrangements for cooperation on procurement for the project.The port will include terminals for container transhipment, hydrocarbon storage and transhipment, and bulk. It will also have the capacity to handle other cargo.Mohamed Jamal Benjelloun, Director General of Société Nador West Med, said: “The Nador West Med project is a priority project for Morocco and represents a key element of a wider development project including a port-industrial platform, Free Zone and logistics capability.” 此页面无法正确加载 Google 地图。您是否拥有此网站?确定 Print  Closecenter_img My locationlast_img read more