OPEC Fund Quarterly - 2024 Q1

SPECIAL FEATURE

Tadjoura Port Access Road Project In 2018, the OPEC Fund committed US$14 million towards co-financing the Tadjoura Port Access Road project in Djibouti. This project supports the economic and social development of the country, particularly its northern region. It contributed to the growth of maritime transport services in Djibouti and to reinforce regional integration with neighboring Ethiopia through the construction of a more efficient multi- modal transport system combining ports, roads and railway infrastructure.

ensure the smooth flow of water under the road. Better road infrastructure cuts transport costs, makes it easier for businesses to reach internal and external markets, and helps consumers access a greater diversity of goods at lower prices. The latter is particularly important for local markets. Overall the project boosted trade and commerce, contributing to the socio-economic development of the northern region of Djibouti. It enhanced the lives of the local communities, while also attracting foreign direct investment. With approximately 2,500 ships passing through the Port of Djibouti per year, the country is beginning to establish itself as a leader in regional and international trade. Around 30 percent of global merchant ships travel through the country’s waters, helping it attract foreign direct investment in infrastructure and commercial projects in its transport and logistics sectors.

It increased trade levels, while the increase in economic activity created jobs for over 200,000 people in one of the country’s most underprivileged areas. The road connects the Tadjoura- Balho road to the eastern and western entrances of the port. Heavy hydraulic and drainage works were performed in order for the road not to be affected by the occasional flooding of the riverbed.

Photo: simona pilolla 2/Shutterstock.com

Sixty-five culverts (mainly pipes and watercourses), were built to

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