With the intention of modernizing the equipment and expanding the infrastructure of the port of the economic capital of Benin, the African Development Bank (BAD) and the the Autonomous Port of Cotonou (PAC) signed a financing agreement of 98.3 million euros on February 12 last year.

This funding will allow PAC to implement its 2021-2026 Port Master Plan, a five-year investment program aimed at renovating and replacing obsolete port infrastructure, increasing its capacity, while improving the quality of service to attract a additional traffic. According to the director of the Department of Infrastructure and Urban Development of Banque africaine de développement , Mike Salawou, “the signing of this agreement marks an important step for the development of the Autonomous Port of Cotonou and the Beninese economy, with positive impacts on trade, competitiveness, job creation and social inclusion

This project represents the first private sector infrastructure transaction financed by the Bank in Benin and to use blended climate finance. It will strengthen the competitiveness of the port of Cotonou, the economic heart of this West African country in the Gulf of Guinea. In particular, it foresees the construction of the bulk carrier terminal (T5) by extending it by an additional 25 hectares to allow the storage of bulk and miscellaneous goods. It also aims to expand the Zongo car park and to centralize truck access through automated doors

In addition, the modernization of the port will increase the volume of goods processed and reduce the waiting time for ships. Its implementation will lead to the creation of jobs and the consideration of Beninese companies during the construction and operating phases. The project will also strengthen regional integration by improving trade in the sub-region

A en croire le directeur général du Port autonome de Cotonou (PAC), Baart Van Eenoo, “le financement de la African Development Bank allows the Autonomous Port of Cotonou to initiate its master plan through two key projects: the creation of a new 25-hectare terminal reclaimed from the sea, and a new 14-hectare smart buffer car park to manage the flow of trucks entering and leaving the port. The Port of Cotonou will thus be able to transfer its current activities to these new areas, paving the way for the next steps in its ambitious master plan.”