Morocco's Global Trade Ambition
Morocco stands at a critical economic crossroads, with its maritime infrastructure serving as a key driver of regional trade and economic development. The Tanger Med Port Complex, Africa's and the Mediterranean’s largest port, exemplifies the country's ambitious vision for global economic integration. Since its inception in 2007, the port has grown to handle more than 10 million containers, 3 million passengers, 500,000 trucks, and 600,000 new vehicles per year, connecting Morocco to 180 ports across 70 countries.
PROJECT HIGHLIGHTS
World Bank Group supported a €476 million expansion of Tanger Med Port, financed by €400 million in debt (including a €203 million MIGA- guaranteed loan and €197 million from IFC) and approximately €76 million in equity from Tanger Med’s own cash flows.
The project aims to modernize and enhance the port by increasing truck capacity from 700,000 to 1.5 million units annually.
This is IFC’s first sustainability-linked loan in Morocco's port sector, focusing on gender diversity and renewable energy.
The expansion strategically enhances connectivity between Europe, Africa, and the Americas, strengthening Morocco's position as Europe's primary gateway for automotive and agricultural exports.