A new financial boost to speed up work on the port of Nador in the western Mediterranean

The European Bank for Reconstruction and Development (EBRD) granted on Monday a loan of 100 million euros to the port company of Nador in the western Mediterranean for the construction of this port on the east side.

According to a statement from the London-based foundation, the loan is a new payment under a €200 million loan agreement from the European Bank for Reconstruction and Development signed in 2015.

The Bank stressed that the port of Nador in the western Mediterranean, which is part of a broader development plan for the eastern part, will directly contribute to reducing land disparities, supporting the region’s economic development and improving regional access to infrastructure.

The foundation stressed that the new funding will unlock the economic potential of the eastern province, where the port is expected to attract significant foreign direct investment, noting that the port’s terminals will serve as a catalyst for market expansion and a source of direct access to investment opportunities in the private sector, as well as encourage the creation of local industries.

Morocco is a founding member of the European Bank for Reconstruction and Development and became a country of operations in 2012. To date, the bank has invested more than €3.8 billion in the kingdom through 90 projects.

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