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Browsing: IFC financing in Morocco
- IFC is disbursing a $108 million loan to fertilizer maker OCP Group aimed at funding a 219Km long water distribution project in Morocco.
- This financing will help sustain OCP Group’s phosphate plant and provide water to farmers, households, and businesses in the country.
- The new pipeline is expected to be powered entirely by renewable energy by 2030.
A new initiative seeks to lessen the biting water crisis in Morocco while at the same time enhancing plans to tackle food insecurity in Africa. The World Bank’s private lending arm, the International Finance Corporation (IFC) is disbursing $108 million loan to the OCP Group to transform water management in Morocco and enhance food security projects in the country.
The OCP Group is a pioneer in plant nutrition and the production and usage of phosphate-based fertilizers.
According to an update from the IFC, the partnership will seek to address two of the most …