Home > Regions > Europe > Lefèvre Pelletier & associés, Avocats (LPA) counsel to the African Development Bank (AfDB) granting a USD 250,000,000 loan to the Office Chérifien des Phosphates (OCP)

Lefèvre Pelletier & associés, Avocats (LPA) counsel to the African Development Bank (AfDB) granting a USD 250,000,000 loan to the Office Chérifien des Phosphates (OCP)

OCP and the AfDB signed on Thursday 10th May in Casablanca, a loan agreement of USD 250 million under the investment program of OCP. This agreement is the first non-sovereign financing of the AfDB to a Moroccan company.

The purpose of this loan is to finance the construction of the industrial platform of Jorf Lasfar Hub, which ultimately will be home to several chemical complexes in order to increase local processing capacity of phosphate derivatives (phosphoric acid and fertilizers). This will contribute to the Global Program of Development of African agriculture to increase agricultural production and food security. More…