The supplementary financing for the Nador West Med (NWM) Port Complex Construction Project, which is currently underway, is intended to complement the original Bank-financed project approved in 2015. This operation is part of the drive to develop the transport and logistics sector in Morocco, which, in the maritime and port sector, involves the construction and operation of an industrial port platform in Nador within the framework of the Oriental Region development programme. This project consists of three components: (i) construction of port infrastructure; (ii) attendant social and support measures for women and young people; and (iii) project management. The updated total project cost is MAD 9.4 billion or EUR 893.33 million. During project implementation, geotechnical and geological contingencies generated additional costs. These additional works were covered in Addendum No. 1, which should be financed by SNWM. However, due to the impact of the COVID-19 health crisis, the Société Nador West Med (SNWM), like most public companies, is experiencing cash flow difficulties. This supplementary financing will help to bridge the gap in the original financing of the project, which was borne by Nador West Med Company, without modifying the planned activities, thus guaranteeing the proper implementation of the Nador West Med Port Complex Construction Project. The project primely contributes towards climate adaptation result. As such 10% of the total approval is attributed as climate finance, out of which USD 6 million adaptation finance.

Morocco

African Development Bank Group

Africa MENA Countries Northern Africa

Civil Works Construction Computer Hardwares and Consumables

19.05.2022

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