September 30, 2022

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100 million to increase African agriculture

The OCP Group receives $ 100 million in funding to promote African agriculture.

OCP has received $ 100 million in funding from the International Monetary Fund (IFC), a member of the World Bank, to give a new face to African agriculture.

“It simply came to our notice then OCP To consolidate its value chains in Africa, to contribute to the economic growth of the continent and to promote the emergence of sustainable food systems in the region, ”Morocco said today.

These funds will be used to strengthen OCP Africa’s logistics chain, but also to improve the availability of fertilizers suitable for local soils and crops in many African countries, including C டிte d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal and Tanzania.

Also read: L ‘Africa Is on the path to becoming a world leaderAgritech

“We are integrating a new phase to achieve our common goal of promoting sustainable agriculture in Africa, which will allow the continent to fully assert its role in terms of global food security,” underscores President and CEO Mostaba Terrap. Of the OCP group.

IFC Managing Director Magdar Diop said, “This partnership with the OCP is part of the IFC’s strategy to promote regional integration by supporting the development of a Moroccan champion in sub-Saharan Africa. This will create jobs and promote technology transfer. Through this partnership, small producers will have access to climate-smart farming methods that will help them improve their productivity and thus improve their livelihoods. ”

Source: Today Morocco

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