International finance institution the European Bank for Reconstruction and Development (EBRD) has approved a €200 million loan for chemical manufacturing company OCP Group to finance the development of two seawater desalination plants in Morocco.
The desalination facilities will be developed at OCP Group’s El Jadida and Safi industrial areas. With a capacity of 35 million cubic meters, water from the facilities will support the production of phosphate-based fertilizers essential for global food security.
The investment aligns with the EBRD’s Green Economy Transition Strategy 2021-2025 and OCP Group’s Green Investment Program, which aims to reduce annual water consumption in Morocco by 3 million cubic meters.
“We are pleased to support OCP Group’s Green Investment Program and its drive towards sustainable industrial operations,” stated EBRD President Odile Renaud Basso, adding, “This financing not only underscores EBRD’s commitment to addressing critical issues like water scarcity but also aligns with our broader mission to foster sustainable industrial solutions.”
With 790 cubic meters of annual water availability per capita, Morocco experiences significant water stress. Water demand in the cities of El Jadida and Safi exceeds 80% of the region’s available freshwater supply.
As such, the desalination facilities will enable OCP Group to reduce its use of freshwater for its water-intensive industrial processes while contributing to the reinforcement of water security in Morocco.
