The African Development Bank (AfDB) Group and OCP Group signed an agreement on Friday in Rabat for a €450 million partial credit guarantee to help finance the investment program of the global leader in plant nutrition solutions and phosphate fertilizers.
This operation is intended to support the mobilization by Société Générale and BNP Paribas of €530 million in green financing, according to a press release from the AfDB.
The signing of this agreement, which constitutes a key step in the implementation of the OCP Group’s 2023-2030 investment program, makes it possible to secure long-term financial resources from international financial institutions and paves the way for the effective deployment of a series of planned investments, the press release states.
The first of its kind in Morocco, this guarantee mechanism illustrates the AfDB’s role as a catalyst for innovative financing in the service of the energy transition and sustainable water management. It supports the OCP Group’s strategy aimed at strengthening and modernizing its value chains while supporting the resilience and sustainable transformation of Morocco’s agricultural systems.
The program is fully aligned with the pan-African financial institution’s Four Cardinal Points, notably Cardinal Point 2 relating to the mobilization of capital on a large scale, and Cardinal Point 4 concerning the development of resilient and value-creating infrastructure.
“The signing of this agreement reaffirms our commitment to the OCP Group’s investment program. Thanks to our AAA financial rating, we are mobilizing international capital to accelerate the development of low-carbon fertilizer production, the deployment of renewable energies, and sustainable water management,” indicated Achraf Tarsim, the AfDB’s Country Manager for Morocco.
“These are all strategic levers serving the continent’s food security,” Tarsim emphasized.
For the OCP Group, this agreement marks the transition to the on-the-ground deployment phase.
“With this agreement, we are taking a decisive step toward a low-carbon and circular industrial model. The AfDB’s support strengthens our ability to invest in solutions that preserve resources, protect soils, and support farmers,” stated Younes Kchia, Chief Financial Officer of the OCP Group.
“Together, we are contributing to sustainable growth serving Morocco, Africa, and global food security,” said Kchia.
The resources mobilized under this agreement will make it possible to launch structural projects focused on reducing greenhouse gas emissions, developing renewable energies, and improving the water and energy efficiency of the OCP Group’s industrial facilities.
They will also contribute to promoting sustainable agricultural practices, preserving soils, and strengthening food security, while supporting low-carbon industrial growth.
