May 23, 2018 |
The IDB has approved $50m to help fund the Posorja port and its associated infrastructure in Ecuador, the multilateral lender said in a statement.
Proceeds will specifically finance the project's first phase, which requires $504m in total investments. Works also entail land acquisition, dredging and construction of a 400m berth and 20km access road.
The second phase is also expected to cost more than $500m, comprising construction of additional ground facilities. The local government is also
UAE-headquartered DP World will use $50m to fund construction of Posorja port