The African Development Bank Grants Gambia US$ 20.56 Million to Finance the Fourth Extension of Banjul Port
On Thursday, December 15, 2022, the Board of Directors of the African Development Fund, the concessional lending window of the African Development Bank Group, approved $20.56 million in grants to finance the fourth expansion of the port of Banjul, in the Gambia.
The financing includes a $13.71 million grant from the African Development Fund and another $6.85 million grant from the Transition Support Facility window – a fast, simple and flexible disbursement mechanism of the Bank.
The fourth expansion program will extend the port’s pier by 345 meters to accommodate up to three ships simultaneously instead of the current one. It will also extend the container terminal area by 22,000 square meters to create space for unloading ships, replace a non-functioning ferry that runs between Banjul and Bara, and widen 3 kilometers of access roads to the port to improve traffic flow. Information and communication systems will also be installed to ensure efficient links between customs and the terminal operating system.
The port expansion will also be financed in parallel with a private investor who will be competitively selected by the Gambian government.
The port upgrade will significantly reduce vessel turnaround times and cut down on congestion and costly overloads, thereby reducing ocean freight costs and demurrage. The work will enhance the facility’s ability to handle growing traffic and improve operational and management efficiency by digitizing its procedures. The introduction of green and low-carbon ferries will make the port infrastructure more climate-friendly and resilient to climate change. The project is also expected to empower women’s groups through gender-responsive procurement and create jobs, especially for youth.
Noted that the World Bank and the African Development Bank have supported previous expansions of the port of Banjul.
