IFC injects $37 Mln in Morocco’s BLS Logistics Company

The International Finance Corporation has announced a $37 million investment in Morocco’s logistics service provider BLS to support the company’s growth strategy and strengthen Morocco’s position as a regional logistics and trade hub.

The IFC funding will help BLS finance its expansion plans, which include creating an estimated 500 new jobs by 2030 through the construction, extension, and acquisition of warehouse facilities in various cities in Morocco.

BLS, which provides freight forwarding, transit, and third-party logistics services in 10 warehouse facilities in Morocco, is majority owned by H&S Invest Holding, a family-owned Moroccan holding company.

IFC and BLS signed the investment agreement Wednesday in Washington on the sidelines of the International Monetary Fund-World Bank Group 2024 Annual Meetings.

For more than 60 years, IFC has worked alongside Morocco’s public and private sector partners to foster growth across key industries, including infrastructure, finance, manufacturing, and agribusiness.

These efforts have been instrumental in transforming Morocco into a regional hub for international connectivity, bolstered by significant infrastructure investments and port modernization.