The European Bank for Reconstruction and Development (EBRD) has approved a EUR 25 million ($29.6 million) loan for Egypt’s October Dry Port Company.
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The loan is part of an investment package worth $60 million to finance the design, establishment, operation, and maintenance of Egypt’s first land dry port in the Sixth of October City, EBRD said in a recent statement.
The port will act as an extended gateway for the deep-sea ports located in the northern and eastern regions of Egypt.
The project is projected to save more than 14 million litres of diesel per year and 40,000 tonnes of carbon dioxide annually and is 100% consistent with the Green Economy Transition (GET) approach.
