EBRD Invests Big in Nador Port
- Business & Finance
The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €200 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.
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.