On Tuesday, June 18, a high-level government delegation comprising the Ministers of Economy, Finance and Industry, Infrastructure and Equipment, Trade and Tourism, Budget, along with the President of the Djibouti Port and Free Zones Authority, received a World Bank delegation led by Mr. Nicolas Peltier-Thiberge, Global Director of Transport. The meeting focused on enhancing the partnership between Djibouti and the World Bank.
A key topic was the situation at the Port of Djibouti, particularly its ranking in the Container Port Performance Index (CPPI). This index is annually established by the World Bank and S&P Global Market Intelligence to measure ship turnaround times in ports.
Concerns were raised about interpreting the decline in the Port of Djibouti's ranking. The decline seems largely due to external factors beyond the port's control. These include security issues in the Red Sea and enhanced verification procedures for cargoes to Yemen introduced in September 2023. Therefore, this performance drop should be viewed cautiously.
The World Bank delegation visited container handling facilities at the Port of Djibouti and met local officials to better understand port operations.
The Port of Djibouti remains a critical logistics hub in Africa, significantly contributing to regional economic development. Despite disruptions in 2023, it experienced a notable increase in container traffic during the second half of the year, maintaining its strategic importance for major shipping lines.
The World Bank reaffirmed its commitment to supporting the Port of Djibouti due to its global trade significance and connectivity with Africa. This partnership aims to back Djibouti's priorities regarding inclusive growth, employment, human capital development, and regional connectivity through infrastructure improvements and economic corridor promotion initiatives.
The World Bank delegation will continue technical discussions with Djiboutian authorities over coming days to bolster cooperation and support sustainable development in Djibouti.