The Board of Directors of the African Development Bank Group has approved a record financing of $135 million for the Union of the Comoros. This ambitious project aims to transform the country’s port infrastructure, thereby boosting regional trade and the economic development of the archipelago.
Key points of the project:
Modernization of Moroni and Boingoma Ports
- Construction of new docks (240m in Moroni, 136m in Boingoma)
- Improved accommodation capacities for ferries and fishing boats
Facilitation of Regional Trade
- Modernization of customs administration
- Creation of a national single window
- Development of a special economic zone
Support for the Local Economy and Gender Equality
- Development of value chains in fishing and agriculture
- Construction of equipped shops for women traders
- Support for women’s cooperatives
The financing mainly comes from the African Development Fund ($133 million) and the Transition Support Facility ($2 million). Other international institutions, including the European Investment Bank and the World Bank, will co-finance the project.
Nnenna Nwabufo, Director General of the Bank for East Africa, emphasizes the importance of this project for the Comoros Emerging Plan 2030. She asserts that it will contribute to improving the living conditions of Comorians and reducing the country’s vulnerability to climate change.
This project is part of a broader development vision, aiming to harness the potential of the blue economy, fishing, agriculture, and tourism in Comoros, while overcoming current structural challenges related to inadequate port infrastructure.
