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Morocco | Against water stress: IFC grants a loan of 100 million euros to the OCP group
The two partners, International Finance Corporation (IFC) and OCP Group, announce a €100 million loan from IFC to OCP Group to combat water scarcity and strengthen food security
This project will support the construction of a 219-kilometer pipeline to transport desalinated water from the Atlantic coast to central Morocco, ensuring a sustainable water supply for OCP Group operations and local communities.
“This project demonstrates OCP’s commitment to sustainable development and innovation. By ensuring a reliable source of desalinated water, we are not only enabling the continued growth of our operations, but also providing essential resources to local communities. Together with IFC, we are paving the way for a sustainable and prosperous future,” said Mostafa Terrab, CEO of OCP Group.
Mostafa Terrab, PDG de l’OCP et Makhtar Diop, Directeur général de l’IFC
This initiative is part of the OCP Group Water Program, which aims to use 100% non-conventional water by the end of 2024 and support Morocco’s priority in sustainable development. By 2030, the pipeline will be powered exclusively by renewable sources, thus strengthening resilience to climate shocks.