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Regional trade: AfDB approves $135 million in financing in Comoros

06/08/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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It was on Friday, July 19, that the Board of Directors of the African Development Bank Group approved a total of 135 million dollars in financing to the Union of Comoros in Abidjan to finance a major maritime and trade project in Abidjan. acute; regional.

The financing granted by the AfDB is intended to support the Maritime Corridor Development and Regional Trade Facilitation Project (PACMFCR). It will allow the extension and modernization of two ports essential to the economic development of the islands of the Union of the Comoros as well as the establishment of a special economic zone. The objective of the project is to improve the national and international connectivity of the Comoros through the upgrading of port infrastructures, the promotion of regional integration and the creation of an ecosystem favorable to the development of value chains. This project will be co-financed by several institutions (the European Investment Bank, the World Bank style="font-family: "Bookman Old Style”, "serif">), the Islamic Development Bank and The French Development Agency ). It will make it possible to expand the ports of Moroni and Boingoma, thanks in particular to the construction of a new wharf of 240 meters for the first and 136 meters for the second, in order to accommodate ferries and fishing boats

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