| Project Detail |
Location: Egypt Project number: 53313 Business sector: Transport Notice type: Private Environmental category: B Approval date: 20 Sep 2023 Status: Pending Approval PSD disclosed: 16 Aug 2023 Project Description A senior loan of up to USD 125 million in favour of the Damietta Alliance Container Terminal (the Company, the Borrower), a special purpose vehicle established to develop a second Container Terminal in Damietta Port (CT IIor the Project) on the basis of a 30-year Build, Operate and Transfer Concession Agreement granted by the port landlord, Damietta Port Authority (DPA). The Loan is part of a financing package of USD 455 million expected to be co-financed by the Asian Infrastructure Investment Bank (AIIB), Deutsche Investitions und Entwicklungsgesellschaft (DEG), the International Finance Corporation (IFC), and Proparco. Project Objectives The Project will support the development of the superstructure and purchase of equipment for CT II thereby significantly increasing Damietta Ports competitive position. The Project promotes private sector participation in the infrastructure sector, which will help Damietta Port become a strategic transhipment hub in the East Mediterranean (East Med). The Project will also support human capital development within the Damietta Region by broadening access to market relevant skills and training in the sector, and helping reduce the skills gaps in the region by developing a skills development strategy responding to emerging and future needs of the ports and logistics sector. |
