The International Finance Corporation (IFC) and Moroccan fertilizer giant, Office Chérifien des Phosphates (OCP Group) launched an $800 million agricultural finance platform to support sustainable food production in Africa.
The announcement made on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings taking place in Marrakesh, Morocco, with the participation of 14,000 delegates.
The funding will enable to strengthen 30 agricultural value chains through 60 agri-finance operations. These operations will encompass various crop types and address prevalent challenges hindering the sector’s growth and resilience.
The platform will contribute to the continent’s agricultural transformation movement by mobilising new funding for farmers and value chains, said Mostafa Terrab, CEO of the OCP Group.
