The European Bank for Reconstruction and Development (EBRD) plans to grant Morocco’s National Port Agency (ANP) a non sovereign loan of €40 million. According to the same source, the loan, for which negotiations are currently ongoing, should be approved in October 2016 after EBRD’s board meet.

The loan if approved will be used to finance the renovation, leveling and reinforcement of protection infrastructures in various Moroccan ports including Agadir’s, Safi’s and Nador’s.

It will also finance major components of ANP’s 2016-2020 investment program which aims to preserve the kingdom’s port infrastructures, an official document from the European Bank stated. “The project will help ANP reinforce its preservation policy for ports that it manages, and develop a systematic approach which includes adaptation to climate change in future investments,” the document states.

Alain Okpeitcha