IFC and MIGA Partner with Tanger Med Port to Expand Morocco’s Trade Hub with €400M Investment

An additional commercial loan of up to €203 million is being extended by a consortium of international banks led by JP Morgan, backed by a 15-year non-honoring guarantee from MIGA.

The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both members of the World Bank Group, announced a major €400 million financing partnership with Tanger Med Port Complex, the largest port in the Mediterranean, aimed at expanding Morocco’s trade capabilities. This collaboration will significantly increase the port’s truck and passenger terminal capacity and further strengthen Morocco’s position as a vital logistics hub for Europe, Africa, and the Americas.

IFC’s investment includes a sustainability-linked loan of up to €197 million (with €47 million sourced from its Managed Co-Lending Portfolio Program), marking Morocco's first such loan and one of the earliest sustainability-linked loans in emerging-market ports globally. The loan is tied to performance indicators such as promoting gender diversity in the port workforce and boosting renewable energy usage. Tanger Med aims to expand its use of green energy sources, including solar and wind, while fostering women’s access to job and leadership opportunities, with a goal to increase women’s managerial presence at the port.

An additional commercial loan of up to €203 million is being extended by a consortium of international banks led by JP Morgan, backed by a 15-year non-honoring guarantee from MIGA. This guarantee will protect against any financial default by state-owned enterprises, providing further stability for the project.

The expansion is expected to more than double the port’s truck capacity, reaching over 1 million units annually. In 2023, Tanger Med handled 477,000 trucks, highlighting the growth potential of this project. This expansion is anticipated to create direct employment opportunities, stimulate economic growth, and elevate investor confidence in Morocco’s infrastructure sector as the country prepares to co-host major international events like the 2025 Africa Cup of Nations and the 2030 FIFA World Cup.

“This project strengthens Morocco’s role as a key logistics center and builds vital trade links between Africa, Europe, and beyond,” said David Tinel, IFC’s Regional Manager for the Maghreb. He added that the expansion will also encourage further investment in Morocco’s infrastructure sector as the nation capitalizes on its strategic location.

Furthermore, as part of its long-term decarbonization strategy, Tanger Med will enhance its resilience to climate risks by raising breakwater and quay elevations to counter sea level rise and by expanding its infrastructure to accommodate larger, eco-friendly vessels.

“Tanger Med’s capacity boost will support Morocco’s industrial and agribusiness sectors and enable growth in exports,” said Loubna Ghaleb, Board Member and Director of Strategy at Tanger Med Group. She emphasized the port’s strategic role in connecting Morocco’s economy with global markets.

This investment aligns with MIGA’s commitment to resilient infrastructure and regional integration, while the IFC’s broader engagement in the Maghreb has mobilized $1.5 billion in the past three years to advance sustainable development across sectors.

As Africa’s busiest container port, Tanger Med currently has direct connections to 180 ports in 70 countries and continues to play a crucial role in regional trade, logistics, and economic growth. The port’s development reflects Morocco’s aspirations to become a leader in sustainable trade and green energy, creating a model for infrastructure development in the Mediterranean and beyond.