AfDB bankrolls Comoros port development

The African Development Bank Group has approved a US$135 million package for the Union of the Comoros.

The funding includes a US$133 million grant from the African Development Fund and a US$2 million grant from the Transition Support Facility, specifically designed for transition states. The funds will support the Maritime Corridor and Regional Trade Facilitation Project (PACMFCR), aimed at enhancing the economic development of the Comoros.

The project will focus on modernising and expanding the ports of Moroni and Boingoma, essential for the country’s maritime and regional trade.

The Union of the Comoros relies on sea transport for about 90% of its inter-island freight. Despite significant potential in the blue economy, including fisheries, agriculture, and tourism, development is hindered by poor port infrastructure, leading to high business costs and increased vulnerability to external shocks.

Key elements of the project include the construction of a 240-metre quay at the port of Moroni and a 136-metre quay at the port of Boingoma to accommodate ferries and fishing boats. The initiative includes the construction of fisheries product stores with solar-powered cold rooms and deep-freezing equipment for women’s cooperatives. Additionally, the project will facilitate the development of a national single window for trade and business, and support the creation of a special economic zone for import and export logistics.

“The project will help develop local value chains in fisheries and agriculture sectors, and facilitate inter-island and regional trade. This is a flagship project of the Plan Comores Émergent, which will certainly help to improve the living conditions of the Comorian population and reduce Comoros‘ vulnerability to climate change,” said the Bank’s Director General for Eastern Africa, Nnenna Nwabufo.

The project is co-financed by the European Investment Bank, the World Bank, the Islamic Development Bank, and the Agence Française de Développement.