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.
Please get in touch to find out more about this project or others in your sector.
ESAP
