{"id":10873,"date":"2024-04-09T05:45:51","date_gmt":"2024-04-09T05:45:51","guid":{"rendered":"https:\/\/gbc1.net\/?p=10873"},"modified":"2024-04-10T15:01:21","modified_gmt":"2024-04-10T15:01:21","slug":"ifc-provides-e20m-loan-to-upgrade-cotonou-container-terminal","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2024\/04\/09\/ifc-provides-e20m-loan-to-upgrade-cotonou-container-terminal\/","title":{"rendered":"IFC Provides \u20ac20M Loan to Upgrade Cotonou Container Terminal"},"content":{"rendered":"\n<p>The IFC is finalizing a loan to Benin Terminal &#8212; a subsidiary of French group Africa Global Logistics (<a href=\"http:\/\/www.aglgroup.com\" target=\"_blank\" rel=\"noreferrer noopener\">AGL<\/a>) &#8212; to upgrade the Container Terminal at the seaport of Cotonou. According to the process timeline, the fund is expected to be transferred by 4 June 2024.<\/p>\n\n\n\n<p>The loan from IFC will go towards procurement of STS cranes, gantry cranes, tugboats and other equipment. The relocation of the power station would also be necessary.<\/p>\n\n\n\n<p>In July 2022, Benin Terminal renewed its concession agreement with the Benin government for another 27 years. Benin Terminal plans to inject a total of EUR 166 million for the expansion of the Container Terminal.<\/p>\n\n\n\n<p>The Container Terminal is part of the larger Cotonou Port upgrade plan. In fact, the port master plan will necessitate a total investment of nearly USD 400 million. It will entail dredging to that the dock can accommodate larger ships and a wave breaker to allow continued operation in spite of bad weather. The construction of a wharf for bulker ships and a parking dock for very large carriers are also part of the plan. A military dock is also on the cards which will be able to service warships.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"496769\" data-has-transparency=\"false\" style=\"--dominant-color: #496769;\" decoding=\"async\" loading=\"lazy\" width=\"800\" height=\"400\" src=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/04\/Cotonou-02-800x400-1-jpg.webp\" alt=\"Visualization of Cotonou Port Development Master Plan\" class=\"not-transparent wp-image-10877\" srcset=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/04\/Cotonou-02-800x400-1-jpg.webp 800w, https:\/\/gbc1.net\/wp-content\/uploads\/2024\/04\/Cotonou-02-800x400-1-300x150.webp 300w, https:\/\/gbc1.net\/wp-content\/uploads\/2024\/04\/Cotonou-02-800x400-1-768x384.webp 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Visualization of Cotonou Port Development Master Plan<\/figcaption><\/figure><\/div>\n\n\n<p>Observers note that the Houthis&#8217; attack leading to the <a href=\"https:\/\/gbc1.net\/index.php\/tag\/redseacrisis\/\">#RedSeaCrisis<\/a> caused a deviation of traffic along the Cape Route. With the expected increase in traffic, the upgrade of the Cotonou seaport was thus placed on the fast track.<\/p>\n\n\n\n<p>In a related news, the border between Benin and Niger have been reponed in February 2024. Before the border closure, Niger contributed to nearly a third of the port traffic at Cotonou.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IFC is finalizing a loan to Benin Terminal &#8212; a subsidiary of French group Africa Global Logistics (AGL) &#8212;<\/p>\n","protected":false},"author":1,"featured_media":10875,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[8],"tags":[460],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IFC Provides \u20ac20M Loan to Upgrade Cotonou Container Terminal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gbc1.net\/index.php\/2024\/04\/09\/ifc-provides-e20m-loan-to-upgrade-cotonou-container-terminal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC Provides \u20ac20M Loan to Upgrade Cotonou Container Terminal\" \/>\n<meta property=\"og:description\" content=\"The IFC is finalizing a loan to Benin Terminal &#8212; 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