The OCP Group, the world’s leading phosphate producer and market leader in phosphate fertilizers, and the International Monetary Fund (IFC), a member of the World Bank Group, have signed a $ 100 million financial agreement to strengthen the African agricultural value chain. Creating sustainable diets.
The joint statement from the OCP and the IFC said the partnership would help support the group’s efforts to integrate its value chains in Africa, contribute to the continent’s economic growth, and the emergence of sustainable food systems in the region.
“OCP Africa, a subsidiary of the OCP Group, will rely on these funds of up to $ 100 million to strengthen its logistics chain and improve the availability of fertilizers suitable for local soils and crops. These funds will be used to create new support programs.
In addition to this funding, the two partners launched joint projects in the areas of promoting corporate governance and promoting gender segregation. “We continue to strengthen the strategic partnership between the OCP Group and the IFC. The agreement signed today reflects the common values and the high level of trust that our companies share. We are fully committed to creating sustainable and inclusive growth. The potential of phosphate resources,” the OCP Group Chairman said. Mostaba Terrop, executive officer.
“With this new agreement, we will be able to support more crops, more farmers, more communities, more ecosystems to better grow the planet. Thus we are taking a new step towards achieving our common goal of developing sustainable agriculture. The continent will fully play its part in global food security. Africa allows, “he said in a statement.
For his part, IFC Managing Director Makhtar Diop said, “This partnership with the OCP is part of the IFC’s strategy to promote regional integration through support for the development of a champion in Morocco in sub-Saharan Africa, which will create jobs and promote technology. Exchange “.
Through this partnership, small producers will be able to access climate-smart farming practices that will help improve their productivity and thus improve their livelihoods. Diop explained, noting that this will allow local communities to be more flexible as well. Effects of climate change.
The OCP Group, which employs more than 21,000 people, is one of the largest companies in the country and is the world’s leading phosphate exporter. The agreement is based on the previous two partnerships, one aimed at strengthening the rice sector in C டிte d’Ivoire and the millet sector in Senegal, and the other supporting the OCP in obtaining key global certification. Organizations for Gender Difference – EDGE (Economic Dividends for Gender Equality).
The IFC is committed to tackling poverty and creating opportunities in Africa while helping the region cope with the economic downturn from the Corona virus (Covit-19) crisis.