Ministry of Oceans and Fisheries Discusses Cooperation on Akahutla Port Expansion Project with El Salvador

Eom Gidu, Vice Minister of the Ministry of Oceans and Fisheries, discusses cooperation plans related to the expansion project of Acajutla Port, the largest trading port in El Salvador, with Federico Anriker, Director of the El Salvador Airport and Port Authority, on the 7th, and poses for a commemorative photo. (Photo by Ministry of Oceans and Fisheries)

[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Oceans and Fisheries announced that Vice Minister Eom Gidu discussed cooperation plans related to the expansion project of Acajutla Port, the largest trading port in El Salvador, with Federico Anrique, Director of the El Salvador Airport and Port Authority, who visited Korea on the 7th.

Previously, in 2018, the Ministry of Oceans and Fisheries conducted a feasibility study on the development of Acajutla Port and proposed improvements to outdated facilities and expansion of port facilities to enhance logistics handling capacity. Based on these study results, the El Salvador government proceeded with the Acajutla Port expansion project and requested support from the Economic Development Cooperation Fund (EDCF) in 2019. In July of this year, the Export-Import Bank of Korea completed a feasibility study for the introduction of the EDCF loan.

The El Salvador government plans to review the loan conditions and project scope derived from the Export-Import Bank's feasibility study and apply for the EDCF from the Korean side by the end of this year. If the loan support is confirmed, the Acajutla Port expansion project is expected to begin in the first half of next year. Kim Changgyun, Director of the Port Division at the Ministry of Oceans and Fisheries, said, "Through this meeting, we confirmed the cooperative will of both governments to successfully promote the Acajutla Port expansion project."