Port News & Information Mediterranean, Black & Caspian Seas

Damietta, Egypt (Ports Europe) August 22, 2023 – The European Bank for Reconstruction and Development (EBRD) is set to approve a $125 million loan to build a second container terminal for Egypt’s Damietta Port on 4 October, the bank reported.

The loan is part of a $455 million financing package co-financed by the Asian Infrastructure Investment Bank (AIIB), Deutsche Investitions und Entwicklungsgesellschaft (DEG), the International Finance Corporation (IFC) and Proparco.

In May 2022, an agreement was signed between the Damietta Port Authority (DPA) and Damietta Alliance Container Terminal to build the superstructure of the second container terminal, to be called Tahya Misr 1. Damietta Alliance Container Terminal has three primary shareholders: Germany’s Eurogate, Contship Italia and Hapag-Lloyd.

More Ports Europe news about the EBRD and Damietta

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