OCP signs $ 100 million financing agreement with IFC
Moroccan phosphate and fertilizer producer OCP has secured a $ 100 million loan from the International Finance Corporation (IFC) to develop its African value chain.
The loan will help OCP Africa expand its logistics networks and increase the availability of fertilizers, suitable for local soils and crops, in Côte d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal and Tanzania , the two sides said in a statement. declaration.
OCP has also launched projects with IFC to improve corporate governance and promote gender equity.
“The strategic partnership between OCP Group and IFC continues to grow, and today’s agreement is a testament to the shared values and high level of trust our institutions enjoy,” said OCP Director Mostafa. Terrab.
“The partnership with OCP is part of IFC’s strategy to promote regional integration through the support of a Moroccan champion who is expanding in sub-Saharan Africa, creating jobs and encouraging technology transfer,” said Makhtar. Diop, Managing Director of IFC.
OCP, which has 21,000 employees, is a major company in Morocco and the largest exporter of phosphate in the world. The agreement spans two previous partnerships, one aimed at strengthening the rice sector in Côte d’Ivoire and the millet sector in Senegal, the other aimed at helping OCP obtain the first global certification of companies for the gender equality.