Rehabilitation of the Manzanillo Port area and road accesses will help reduce transportation costs and freight times.
The Inter-American Development Bank (IDB) has approved a US$100 million loan to help the Dominican Republic improve competitiveness and socioeconomic growth of its northwestern region by modernizing port logistics and infrastructure. The operation consists of the construction of a modern logistics terminal with a platform parallel to the bay coastline.
The Ministerio de Obras Públicas y Comunicaciones (MOPC, Ministry of Public Works and Communications) will be in charge of the works planning and execution as well as of maintenance of the road and port infrastructure. APORDOM, the Dominican Port Authority, which is responsible for all government-owned seaport facilities, will manage the new logistics terminal and implement port policies conducive to attracting private sector investments in strategic areas in order to promote the development of the country’s northwestern region.
Given its natural conditions and its strategic location on the navigation route to the U.S., the Port of Manzanillo aspires to become the country’s primary northwestern port. Its enhancement will allow for the berthing of larger vessels and handling of containerized cargo; it will significantly boost banana shipments; promote the development of new exports from the agroindustrial sector and northwestern free trade zones; and drive additional private investment by leveraging its geostrategic position.
In addition, the port’s rehabilitation and expansion will meet modern resilience and natural conservation standards for the bay. The project includes improving the main road access to the port, which will ensure adequate connectivity and accessibility for producers and businesses to new markets as well as production and consumption centers, and also help generate jobs, with a strong focus on employment of women and the inclusion of persons with disabilities.
The Bank’s US$100 million loan has a 5.5-year grace period, a 5-year disbursement term, and an interest rate based on Libor.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
IDB Team leader
Rehabilitation and Expansion of Puerto Manzanillo (DR-L1141)