On June 9, 2026, the International Finance Corporation (IFC) and OCP Group officially signed a €95 million loan agreement (approximately $111.29 million) to finance the construction of a land-based storage facility for phosphogypsum, a byproduct of phosphate fertilizer production. The signing was confirmed by both parties in a joint statement.
The facility, to be built in Morocco, aims to replace current ocean disposal methods with a more environmentally sustainable storage solution. Phosphogypsum is generated during the production of phosphoric acid, a key ingredient in fertilizers.
According to the IFC, the project is expected to reduce marine pollution and improve waste management practices. The loan is part of IFC's broader strategy to support sustainable industrial development in emerging markets.
OCP Group, a global leader in phosphate and fertilizer production, stated that the storage facility will incorporate advanced technologies to minimize environmental impact. The project is aligned with Morocco's national environmental goals.
