Morocco is constructing a new Mediterranean port which will “will provide a boost to regional economic growth”:
The European Bank for Reconstruction and Development (EBRD) has announced a €200 million loan to state-owned “Société Nador West MED” to enable it finance the basic infrastructure for a new port on the Mediterranean coast of Morocco in the city of Nador.
The development of the port is a major boost for eastern Morocco and is expected to promote the development of the Oriental region by generating economic growth and creating new jobs.
“The Nador West Med project is a priority project for Morocco and represents a key element of a wider development project including a port-industrial platform, Free Zone and logistics capability,” said Director General of Société Nador West Med, Mohamed Jamal Benjelloun.
EBRD Managing Director for the Southern and Eastern Mediterranean, Hildegard Gacek, who described the project as “important” said “this port is part of a wider development approach which will provide a platform for private-sector led market expansion and help attract foreign investment.”..[FULL STORY]