The port currently handles exports of agricultural products, fertilizers and furniture as well as imported goods such as petrochemicals, cement, grains, flour, and general cargo. It handles a total capacity of about 5.6m tons annually. The existing facilities are unable to serve the potential demand of 4.5m TEU.

The project will have important development impacts. The first direct impact will be the creation of 1,600 permanent local jobs. Another benefit will be the transfer of technology, since the operators of the port will provide training in modern port practices to the Egyptian staff. The injection of permanent wages and revenues into the economy will boost Egypt's national income.

Damietta container terminal will offer an opportunity for other African countries close to Egypt that are not endowed with such infrastructures to export and imports commodities. This will enhance the competitiveness of regional trade and reinforce regional cooperation.

The project will be financed by $200m of equity from the sponsors and $480m of senior debt provided by the ADB and two leading Middle Eastern commercial banks, the Ahli United Bank (AUB) and Arab Banking Corporation (ABC), and is in line with the Bank's country strategy for Egypt for the period 2007-2011, which focuses on supporting infrastructure development, trade, and economic growth. As a public-private infrastructure project, Damietta is also in line with the bank's updated private sector development (PSD) strategy.

In November 2006, the ADB supported comprehensive structural and financial reforms initiated by the government of Egypt with a loan of $500m, the highest amount ever approved by the institution for any of its 53 regional member countries.