Albayrak Group Secures Long-Term Financing from International Commercial Bank for the Banjul Port Rehabilitation Project in The Gambia

Albayrak Group has signed a project finance loan agreement with Zenith Bank, one of Africa’s largest banks, to support the ongoing rehabilitation of the Port of Banjul. This financing stands out as one of the rare examples of international commercial banks funding port infrastructure projects in Africa.

While infrastructure investments in Africa are predominantly financed by development banks, the participation of commercial banks in such projects remains limited. In this context, the long-term loan secured by Albayrak Group from a commercial bank for the Banjul Port demonstrates both the commercial viability and the financial sustainability of the project.

Speaking at the signing ceremony attended by Zenith Bank Gambia General Manager Mr Kabiru Imoagene Mustapha and Regional Director Inna Buya Puye, Mr. Yunus Yılmaz, General Manager of Albayrak Construction, emphasized that this milestone is not only significant for the current project but also a crucial step toward encouraging greater involvement of commercial banks in future phases of port development projects.

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Under a 30-year concession period, Albayrak Group will be responsible for the modernization and operation of the Port of Banjul. Once completed, the project is expected to significantly strengthen The Gambia’s position in international trade and contribute to the growth of the regional economy.