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Browsing: OCP Group
- 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 …
- The African Development Bank has donated $20 million to Senegal to enhance food security and support small producers post-COVID through the PRESAN-PC project.
- Infrastructure development, including agricultural boreholes and solar-powered systems, aims to increase farm production and resilience to climate change.
- The project benefits vulnerable women and youth, includes contributions from various sources, and impacts 31,000 households across multiple Senegalese regions.
In an ambitious move to ensure food security and enhance the livelihoods of its small producers, Senegal has received a significant financial boost. On a notable day in March 2024, the African Development Bank Group allocated a $20 million donation to the nation for the Post-Covid Food and Nutrition Security Enhancement Project (PRESAN-PC).
The initiative aims to transform Senegal’s agricultural landscape, benefiting vulnerable women and young people through increased farm production and income.
African Development Bank’s $20 million donation to Senegal
The African Development Bank’s generous donation comes from …