The International Finance Corporation (IFC) and the Office Chérifien des Phosphates (OCP) are joining forces to support African agriculture. This sector significantly contributes, accounting for 20% of Africa’s GDP and 60% of its employment.
IFC and OCP are launching a financing platform to support the agricultural sector from production to distribution. They aim to raise $800 million to enhance around thirty value chains by facilitating access to credit and providing training for operators.
Bank of Africa has already engaged in the project by offering financial solutions for fertilizer supply or value chain development projects in Côte d’Ivoire.
IFC and OCP plan to conduct a preliminary assessment of existing value chains to identify obstacles to their enhancement and develop compensatory actions.
To strengthen the capacity of this initiative, both companies are open to participation from partners interested in promoting African agriculture.
Source: EcoFin
