IFC and OCP Group, the world's largest phosphate-based fertilizer producer, today launched an agri-finance platform to mobilize $800 million of blended capital by 2030. The new platform will build and support sustainable food production and distribution systems in Africa, contributing to skills development, job creation, and food security.
"Today we take a major step towards a just African agricultural transformation by mobilizing substantial new financing for African farmers and for the value chains that support them" said Mostafa Terrab, Chairman and CEO of OCP Group."The partnership between IFC and OCP is working to unlock the full potential of Africa to feed not only itself but the world."
Besides providing funding, the platform will undertake in-depth studies of targeted value chains to identify the challenges facing the sector and design solutions. The platform aims to foster the emergence of African champions and enable best practices to be shared so that success can be replicated across Africa.
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