The International Finance Corporation (IFC) is a subsidiary of the World Bank. Its capital is held by the 185 member countries. It finances and/or acquires stakes in private companies or companies of a private nature in emerging countries.
On June 28, it signed a $100 million financing agreement for a project of the Office chérifien des phosphates (OCP), a world leader in the sector.
The initiative aims to strengthen the group’s supply chain while supporting local producers in the rational use of “customized” fertilizers. Through this action targeted on West Africa, the group intends to maintain the attractiveness of the agricultural sector, improve yields and ensure the food security of populations.
The ambitions of the OCP group were recently the subject of a $350 million financial support from the African Export and Import Bank (Afreximbank), for a similar operation to support the development of African agricultural production.
Source : agence Ecofin