A strategic partnership was formed between the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and a consortium of international banks led by JP Morgan to expand the Tanger Med port complex in Morocco.
The partnership involves a total investment of 400 million euros and focuses on enhancing the capacity of the Passenger and Roll-on/Roll-off (Ro-Ro) port.
The IFC's commitment of 197 million euros is notable as it incorporates sustainability indicators, marking a trend towards sustainable financing in infrastructure projects.
The remaining 203 million euros will be provided through a commercial loan facilitated by international lenders, with MIGA offering a 15-year guarantee.
The expansion of the Tanger Med port complex aims to strengthen Morocco's position as a logistics hub, increasing its capacity to handle truck flows.
Norton Rose Fulbright, an international law firm, played a crucial role in advising the parties involved.
The collaboration between the IFC, MIGA, and JP Morgan reflects the involvement of international financial institutions in infrastructure development in emerging markets.
MIGA's involvement provides a safety net for lenders, encouraging investment in high-risk projects.
Norton Rose Fulbright's legal expertise was instrumental in navigating the complexities of the partnership.
The firm ensured compliance with local laws and addressed all aspects of the agreement.
The expansion of the Tanger Med port complex is a significant step towards enhancing Morocco's role in global trade and logistics.