Morocco's Tanger Med Port Plans $714M Expansion with World Bank Backing

Morocco's Tanger Med Port Authority (TMPA) plans a $714 million expansion backed by the World Bank, focusing on extending passenger and truck terminals and modernizing import zones. The investment involves raising 350 million euros ($384 million) in debt financing, including a $110 million loan from the International Finance Cooperation and $274 million in commercial loans, benefiting from Multilateral Investment Guarantee Agency cover. J.P. Morgan Chase Bank N.A., London Branch, has requested MIGA cover for its loans. Tanger Med Port Complex, Africa's leading container port, stands out with over 100 million tons of goods and 7 million containers, enjoying strategic maritime connections.

The Tanger Med Port Complex's ambitious $714 million expansion, backed by the World Bank, highlights its commitment to enhancing infrastructure and capacity. The financing package, including IFC and MIGA support, underscores the global significance of TMPA's expansion, positioning it as a key player in maritime trade. The strategic location connecting over one hundred eighty ports and seventy countries emphasizes the pivotal role of Tanger Med Port in regional and international trade networks.