The Port of San Pedro, Cote D’Ivoire, is being developed through a Special Economic Zone initiative. As part of this, our client received a concession to develop a multi-purpose dry bulk terminal of some 5,700 m2, supported by funding from a consortium of international banks. The loan agreement followed the requirements as set out by the Equator Principles, resulting in a detailed list of Environmental and Social (E&S) Requirements to be implemented, prior to financial signing and subsequent disbursements.
Earth Active were retained to provide additional E&S resources to our client and help them understand and implement the detailed requirements of the Environmental and Social Action Plan (ESAP). The work included; support with assessing the impacts of dredging and development activity on the marine biodiversity, an assessment and redress process for potential physical and economic displacement impacts on local fishing communities, a climate resilience review of the port, a cumulative impacts study and an update of the client’s grievance processes.
With our support, the client was able to complete all necessary E&S lender requirements prior to financial close, opening the opportunity to further financing of the terminal development. Agreement was met on actions that truly mattered, enabling cost-effective but valued support to local fishing communities and marine conservation efforts. The next phase of ESAP implementation is currently being prepared.
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