African Bank Grants Congo USD12M Loan for Port Development

The Central African States Development Bank has granted an autonomous port in Congo a USD12 million loan to finance part of efforts to modernize the country’s only seaport, which is currently getting crowded with growing trade traffic.

The loan augments pledges and grants from the European Investment Bank and French Development Agency for the development of the Autonomous Port of Pointe-Noire.

The program includes expanding the port’s land area through the construction of a 300-meter sea wall, Pan-African News Agency reports.

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  • Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.