Comoros has launched its ‘maritime corridor’ project after receiving financial support from a range of multilateral donors, including US$137mn from the African Development Bank (AfDB)
The project aims to modernise port infrastructure that is essential to the economic development of the islands of the Comoros, facilitate trade and strengthen regional connectivity, the AfDB noted in a statement.
Specifically, it aims to boost capacity and efficiency of the ports of Moroni and Boingoma to meet current and future needs, reduce transport costs and facilitate inter-island and regional trade.
The hope is that it will enable the Indian Ocean archipelago to capitalise on its strategic geographical position in the Mozambique Channel and become a logistics hub between Africa and Asia.
The island chain is situated between the northern coast of Mozambique and the north-west coast of Madagascar.
“The maritime corridor we are launching today is an eloquent testimony to our ability to build a resilient nation, fully integrated into regional and continental dynamics,” said President of the Union of the Comoros, Azali Assoumani, at a launch event in Moroni, the capital.
“It is a living symbol of our openness to the world, a bridge between people, a vehicle for trade, cooperation and shared prosperity.”
Other partners supporting the scheme include the World Bank, the Islamic Development Bank, the French Development Agency, the European Union and the European Investment Bank, which together have provided a further US$110mn in additional funding.
The Global Centre for Adaptation has also provided support for the assessment of climate risks to port infrastructure and adaptation options to be considered in the design of the structures.
An AfDB official said the maritime corridor — the flagship project of the Comoros Emerging Plan 2030 — will contribute to developing ‘value chains’ in agriculture and fisheries, while creating economic opportunities for young people and women.
Since the beginning of its cooperation with Comoros in 1977, AfDB has financed nearly 40 projects and initiatives worth US$530mn, across sectors including transport, energy, agriculture and governance.
Comorian Minister of Maritime and Air Transport, Yasmine Hassane Alfeine, thanked the bank and other lenders for their support.
“We are taking a new step in the modernisation of our port and maritime infrastructure, with the prospect of creating a special economic zone.”
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