OCP Group, Casablanca, and the International Finance Corp. (IFC) have inked a $100 million financing agreement aimed at helping OCP subsidiary OCP Africa expand its logistics networks and increase the availability of soil and crop-adapted fertilizers in a number of Sub-Saharan countries, according to statements by the two parties.
The funds also will be used to put in place additional farmer development programs, said OCP. The countries being targeted are Côte d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal, and Tanzania.
Along with this financing, the Moroccan group said it also has launched projects with the IFC to enhance corporate governance, and promote gender equality.
This agreement expands on two earlier partnerships with IFC, one aimed at strengthening the rice sector in Côte d’Ivoire, and the millet sector in Senegal, the other aimed at helping OCP secure the global business certification for gender equality “Economic Dividends for Gender Equality” (EDGE).