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Weekly highlights

OCP/IFC: US$ 800 million for food security

N EW financing is being put in agricultural financing platform of
OCP and the IFC will thus support
place to ensure food security
the sustainable growth of the sector
in Africa. The IFC (Interna-
tional Finance Corporation) and increase food security across the
and the OCP Group (Office Chérifien continent. “Today, we are taking a
des Phosphates) are launching a new major step towards an equitable Afri-
financing platform for the agricultural can agricultural transformation, by
sector which will deploy 800 million mobilizing major new financing for
US dollars to build sustainable food African farmers and for the value
systems in Africa. The announce- chains that support them”, underlines
ment was made on the sidelines of the Mostafa Terrab, Chairman and CEO
Annual Meetings of the World Bank of the OCP Group. “This partnership
Group and of the International Mone- between the IFC and the OCP Group
tary Fund, whose proceedings conti- aims to unlock the full potential of
nue in Marrakech until October 15. Africa so that it can feed itself and the
This is a platform that will contribute world.”. Makhtar Diop, Managing
to skills development, job creation, Director of the IFC, says something
and food security. In detail, thanks to along the same lines. “Agriculture is
financing and professional training, A partnership agreement between the WB and the OCP group will support 4 African an essential sector for Africa. Inten-
the new platform will make it possible countries to expand access to fertilizers for 5 million farmers. Mostafa Terrab, CEO of sifying our partnership with the OCP
to strengthen 30 agricultural value OCP, and Ousmane Diagana, vice president of the World Bank for Western and Central Group aims to improve food produc-
Africa, concluded the partnership agreement
chains in Africa. Sixty financing ope- tion and attract investments to the
rations are planned. These operations of its jobs. However, Africa today still sector which concentrates most jobs continent”, declares Makhtar Diop.
cover different types of crops and aim imports a large part of its food pro- on the continent, and African youth, “The IFC and the OCP Group will
to address the challenges that are ham- ducts, which reduces its resistance to numerous and talented, offer new provide the resources that will allow
pering the growth and resilience of the external shocks. prospects to better make the most the platform to be developed. We in-
sector. This is because agriculture is In the continent, food sovereignty of the enormous potential of Africa, vite like-minded partners and inves-
vital to the African economy. It contri- is increasingly taken into account. It which can transform itself into the tors to participate in this important
butes to around 20% of the continent’s depends on smallholder farmers from breadbasket of the world. The targe- and timely project”.o
GDP and represents more than 60% a food security perspective. It is also a ted investment strategy for the new B.B.

Reforms in Morocco

A model of gradual transformation

T HE tripartite organization Fouzi Lekjaâ’s speech touched on is to set a course that will acce-
lerate the reforms. A number of
of the Football World Cup the history of reform in Morocco. This
projects are currently underway,
in 2030 (Spain-Portugal- is an original approach to an audience
Morocco) is no accident. made up of international finance but it is out of the question to
The relationships between these giants, used to juggling concepts such leave fragile social categories
three countries go back a long way, as debt, budget deficits, and inclusive behind. Moreover, reform is
with strong, long-standing common growth. The originality of this inter- an ongoing process that takes
ties to move forward. At least, this is vention is to shed light on the Moroc- into account both internal deve-
what Minister in charge of Budget, can identity, which many of them are lopments and the international
Fouzi Lekjaâ, hinted at in his speech unfamiliar with, and which explains situation.
on the history of reforms in Morocco, the country’s calling to play avant- According to Fouzi Lekjaâ,
on Monday before the Annual Mee- garde roles in bringing the two shores Morocco’s presence is embo-
tings, in the company of the Aziz of the Mediterranean closer together. died by the accelerating trans-
Akhannouch, Head of Government. With this in mind, the Minister in formations it has witnessed
According to Fouzi Lekjaâ, relations charge of Budget showed that Rabat over more than two decades,
between Europe and Africa, and espe- has been carrying out reforms for particularly since the beginning
cially between Andalusia and the great decades, with a modus operandi that of King Mohammed VI’s reign. According to Fouzi Lekjaâ, Minister
Sahara, are not new. These relation- consists in launching projects. And, These transformations are underpin- in charge of Budget, relations between
ships have been rooted in Moroccan as soon as these reach maturity and ned by a comprehensive royal project Europe and Africa, and especially between
identity for centuries. Indeed, Moroc- produce results, people move on to a aimed at modernizing the country at Andalusia and the Sahara, are nothing
co’s role as a bridge between the global new generation of reforms. This is how various levels, drawing inspiration new. These relationships have been rooted
in Moroccan identity for centuries. Indeed,
North and the global South has been a Morocco has always operated. A kind from its roots while adapting to the Morocco’s role as a link between north and
constant feature of Moroccan policy of model of gradual transformation of present day. o south has been a constant feature since the
since the time of Youssef Ibn Tachfine. society over a long period. The idea Mohamed CHAOUI time of Youssef Ibn Tachfine (Ph. Bziouat)

Friday 13 October 2023