Africa: TDB, MIGA and OCP Group to enhance collaboration in Africa to boost food security

The Eastern and Southern African Trade and Development Bank , the Multilateral Investment Guarantee Agency and OCP Group have signed a Memorandum of Understanding today, during the World Bank Group and International Monetary Fund Annual Meetings, to enhance collaboration in addressing agriculture and food security challenges in Africa.

This collaboration aims to enhance food security, promote employment and farmers’ livelihoods, secure their access to international markets, bolster productivity, and increase foreign exchange availability and earnings by facilitating the export of commercial crops. The MoU further strengthens TDB’s long-standing relationship with OCP Group, thanks to which, USD 2 billion of fertilizer imports from Morocco were facilitated into the TDB region over the past six years.

The parties expect to enhance their cooperation in promoting stable and sustainable economic growth and further economic and trade cooperation in Africa.said: “With this MoU, we are expanding our strategic partnerships with both MIGA and OCP Group, with whom we have successfully rolled-out pioneering and impactful trade finance solutions.

Source: News Formal (newsformal.com)

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