Tanger, November 2, 2024 – The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both part of the World Bank Group, have announced a strategic partnership with Tanger Med, one of Africa’s largest and most ambitious port complexes. The collaboration aims to bolster Morocco’s strategic position in global trade by enhancing the port’s infrastructure and facilitating greater investment.
Through this partnership, IFC will provide financial support to improve port facilities and streamline logistics, while MIGA will offer guarantees to protect investments from political risks. This combined effort is set to increase the port’s capacity, improve operational efficiency, and attract global shipping lines and logistics companies, further cementing Tanger Med’s status as a key gateway between Africa, Europe, and the rest of the world.
Tanger Med has already gained international recognition for its role in facilitating global trade, with its advanced facilities handling millions of containers and connecting to over 180 ports worldwide. The latest partnership is expected to amplify the port’s impact, making it a more attractive hub for international investors and boosting Morocco’s economic growth through increased trade volume.
Officials from Tanger Med expressed optimism about the collaboration, highlighting the economic opportunities it will generate for Morocco and the wider North African region. They noted that the upgrades would not only improve trade flows but also create thousands of jobs and foster regional development.
This strategic investment comes at a time when global supply chains are being redefined, and Morocco is positioning itself as a key player in international trade and logistics. The partnership with IFC and MIGA underscores the country’s ambitions to become a pivotal trade hub and a bridge connecting continents.
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