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Morocco: Supporting agriculture through a key industry
The OPEC Fund is contributing US$20 million to a financing facility that will enable Office Chérifien des Phosphates SA (OCP) in Morocco – a vertically integrated fertilizer company and an important employer in the region – to finance key inputs for its production process. OCP provides nearly 20,000 jobs, and supplies an important source of foreign exchange and government revenues in the North African country.
The operation aligns with three SDGs in particular: SDG 8 on decent work and economic growth; SDG 9 on industry, innovation and infrastructure; and SDG 2 on zero hunger, since OCP supports sustainable agriculture, with the goal of responding to demographic challenges and feeding a growing global population.