The European Bank for Reconstruction and Development (EBRD) has arranged additional financing of EUR100 million (US$105 million) to Société Nador West Med for the construction of the Nador West Med Port PPP project in Morocco.
The provided loan is the second tranche under the EBRD loan agreement in the amount of EUR200 million (US$210 million), signed in 2015. The EBRD is extending a EUR1 million (US$1 million) technical cooperation package that includes support for establishing a skills-development initiative in the industrial port sector.
The project involves the construction of the Nador West Med port in the Oriental Region of Morocco, it will be located about 30 km from Nador. The Nador West Med port is part of a wider development plan for the Eastern Region of Morocco. The port will attract foreign direct investment as well as help build local industries.