To increase the provide of sustainable water for fertilizer production, farmers and households in Morocco, IFC today introduced a €100 million mortgage (about US$108 million) to OCP Crew, the realm chief in plant weight loss program alternate options and phosphate-based fertilizers.
The mortgage will beef up the reach of a 219-kilometer water pipeline and pumping discipline to transport desalinated water from OCP Crew’s existing and deliberate desalination vegetation in Jorf Lasfar on the Atlantic Ocean to the company’s production operations in Khouribga in central Morocco.
Construction is already effectively-evolved and, when carried out, the pipeline can possess a total annual strategy of 80 million cubic meters, the same to the water in bigger than 32,000 Olympic-sized swimming pools.
Morocco is working challenging to kind out severe water stress, affecting agricultural production and impacting the nation’s economic trend. This project will provide OCP Crew with a sustainable and legit source of water and will free up water for use by farmers, businesses, and patrons in and round Khouribga.
“We are grateful for IFC’s beef up in addressing certainly one of many most pressing challenges of our time – water scarcity”, stated Mostafa Terrab, Chairman and CEO of OCP Crew. “This project is a testament to OCP Crew’s dedication to sustainable trend and innovation. By securing a legit source of desalinated water, we’re no longer entirely enabling the continued increase of our operations but on the identical time additionally providing an crucial resources to native communities. This initiative aligns completely with our imaginative and prescient of fostering resilience and meals security at some point of Africa. Together with IFC, we’re paving the technique for a sustainable and prosperous future.”
“Water scarcity is a main obstacle to economic trend in Africa – and this innovative project by OCP Crew demonstrates how businesses can invent alternate options that kind out advanced trend challenges,” stated Makhtar Diop, IFC’s Managing Director. “By supporting the reach of this pipeline, IFC is enabling OCP Crew to no longer entirely address its enjoy water wants but provide a must-possess water resources to communities and beef up the production of high-worth flowers, contributing to a extra resilient and meals-exact future for Africa.”
The pipeline is fragment of OCP Crew’s Water Program, delivered by its genuinely professional subsidiary, OCP Green Water, that is dedicated to supplying 100% non-dilapidated water to the Crew by the extinguish of 2024. By 2027, through investments totaling US $611 million, OCP Crew objectives to possess a production strategy of 560 million m3/year of desalinated water and 60 million m3/year of handled wastewater. Combined with unique applied sciences to slice the Crew’s water wants, this could increasingly no longer entirely guarantee offers for its industrial operations but additionally provide spare means for native communities, building their resilience to climate change.
This project helps Morocco’s priority for sustainable trend and is carefully aligned with the World Financial institution Crew’s approach in Morocco, which includes a resounding focal point on climate. By 2030, the pipeline is predicted to be completely powered by renewable sources, improving earn entry to to sustainable water resources and increasing resilience to climate shocks.
The project additionally helps IFC’s nation approach for Morocco, which makes a speciality of enabling investments that contribute to the scaling of sustainable infrastructure and promoting inexperienced and inclusive increase.
Since 2021, IFC and OCP Crew possess partnered to invent sustainable meals methods in Africa, fabricate solar vegetation and inexperienced fertilizer production, promote gender equality, and beef up the Crew’s sustainability approach.
For bigger than 60 years, IFC has worked with public and personal sector companions to beef up dinky businesses, manufacturers, agribusinesses, infrastructure, the financial sector, and extra in Morocco. In the previous three fiscal years, IFC has invested and mobilized bigger than $1 billion to beef up sustainable economic trend.
