AFD and OCP's Partnership for Sustainable Development in Morocco's Agriculture Sector
Key Ideas
- The French Development Agency (AFD) and Morocco's fertilizer giant OCP are strengthening cooperation in applied research, particularly in agriculture.
- AFD and OCP signed a major financing agreement for the decarbonization of OCP's value chain, aiming for a sustainable global future and food security in Africa.
- A loan of up to 350 million euros will target the development of green hydrogen, ammonia, renewable energies, and training of human capital as part of OCP's green investment program.
- AFD also announced plans to invest 150 million euros in Morocco's southern provinces, showing support for Morocco's sovereignty over its southern provinces in Western Sahara.
The French Development Agency (AFD) and Morocco's fertilizer giant OCP have expressed their commitment to enhancing cooperation in applied research, specifically in the field of agriculture. AFD's Director General Rémy Rioux announced a major financing agreement for the decarbonization of OCP's value chain during his visit to Laayoune. The partnership between AFD and OCP aims to work towards the decarbonization of Morocco's economy and ensure food security in Africa. Both parties are aligned in their vision for a sustainable global future, with decarbonization being a key focus of AFD's strategy in Morocco for 2022-2026.
As part of their collaboration, AFD and OCP are considering a loan of up to 350 million euros to facilitate the development of green hydrogen, ammonia, and renewable energies. This financial support will also contribute to the training of human capital as part of OCP's green investment program spanning from 2023 to 2027. The program, with an overall investment of USD 13 billion, aims to enable OCP to achieve complete autonomy, including the use of 100% nonconventional water by 2024 and a water desalination capacity of 50 million m3 per year by 2026.
During AFD's visit to Laayoune, the agency also pledged to make significant investments of 150 million euros in Morocco's southern provinces, demonstrating France's support for Morocco's sovereignty over its southern provinces in Western Sahara. This investment aligns with King Mohammed VI's development model for the southern provinces initiated in 2015.
Topics
Green Hydrogen
Investment
Research
Decarbonization
Sustainable Future
Cooperation
Fertilizer
Development Agency
Sovereignty
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