EBRD to fund Damietta Port's second container terminal in$125M deal

The European Bank for Reconstruction and Development (EBRD] is expected to approve a $125 million loan this October for the Damietta Alliance Container Terminal.

The loan will support the development of the superstructure and purchase of equipment to develop a second container terminal in Damietta Port.

According to the bank's website, this loan promotes private sector participation in the infrastructure sector, which will help Damietta Port become a strategic transshipment hub in the East Mediterranean.