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Home » OCP Secures €100M Loan from IFC to Combat Water Scarcity, Food Insecurity in Africa

OCP Secures €100M Loan from IFC to Combat Water Scarcity, Food Insecurity in Africa

Moroccan fertilizer giant OCP Group is joining forces with the International Finance Corporation (IFC) to launch a €100 million initiative aimed at addressing water scarcity and improving food security in Africa.

Sara ZouitenbySara Zouiten
Sep, 13, 2024
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OCP Secures €100M Loan from IFC to Combat Water Scarcity, Food Insecurity in Africa

OCP Secures €100M Loan from IFC to Combat Water Scarcity, Food Insecurity in Africa

Rabat – Moroccan fertilizer giant OCP Group is joining forces with the International Finance Corporation (IFC) to launch a €100 million initiative aimed at addressing water scarcity and improving food security in Africa. 

The project involves the construction of a 219-kilometer pipeline that will transport desalinated water from the Atlantic coast to central Morocco. It aims to ensure a sustainable water supply for both OCP’s operations and local communities, the group said in a statement.

It added that by 2030, the pipeline will be powered exclusively by renewable energy.
Commenting on the partnership, OCP’s Chairman and CEO Mostafa Terrab said that the project is a “testament to OCP’s commitment to sustainable development and innovation.”

“By securing a reliable source of desalinated water, we are not only enabling the continued growth of our operations but also providing essential resources to local communities. Together with IFC, we are paving the way for a sustainable and prosperous future,” he argued.

The statement added that this effort aligns with OCP’s goal to rely entirely on non-conventional water sources by 2024 and power the pipeline with renewable energy by 2030.

In addition to this project, OCP has been actively working across Africa to combat food insecurity and support local farmers. The group helps improve soil health and boost agricultural productivity through initiatives like donating fertilizers and providing agronomic support.

Morocco has faced significant droughts in recent years, leading to severe water shortages that have affected both agricultural and industrial sectors. 

In his latest Throne Day speech, King Mohammed VI highlighted the urgent need to address the country’s water crisis and emphasized the importance of sustainable solutions for water resource management. 

The OCP-IFC project aligns with the national priority of ensuring long-term water security in Morocco and the rest of Africa.

Tags: Africafood security in AfricaIFCOCP Moroccowater scarcity
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