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AfDB Grants $20.56 Million to Finance Fourth Expansion of The Gambia's Banjul Port

The African Development Fund (ADF), the concessional lending window of the African Development Bank Group, has approved $20.56 million for the Gambian Government to finance the 4th expansion of the Port of Banjul in The Gambia.

The financing will include a $13.71 million grant from the ADF as well as a $6.85 million grant from the entity’s Transition Support Facility window and a $450,000 grant from the Africa Adaptation Acceleration Program, a joint initiative of the African Development Bank and the Global Center on Adaptation.

The 4th expansion program of the Port of Banjul will include an extension of the port’s pier by 345m, serving to accommodate up to three ships simultaneously; expand the container terminal area by 22,000m2 to facilitate increased container volumes; replace and procure a new-generation ferry that runs between the cities of Banjul and Barra; and widen the port’s Bund Road access roads by 3km to ease congestion.

Meanwhile, poised to reduce sea freight costs and demurrage payments, the expansion program will serve to improve information and communication processing systems to facilitate improved linkages between customs and the terminal operating system and significantly reduce ship turnaround time, thereby cutting congestion and costly surcharges.

Additionally, the port expansion will feature investment from private investors that will be selected by the Gambian Government while the project will also serve to empower women’s groups and support local content development and youth employment.

Source : www.abafnz.com
Posted On: 1/30/2023 12:00:00 AM

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