The African Development Bank Group board of directors approved Wednesday a 450 million euro non-sovereign partial credit guarantee benefiting the Phosphates Office Group. This financing instrument, deployed in Morocco for the first time, aims to enable OCP Group to mobilize loans up to 530 million euros from international financial institutions aligned with its green financing framework.
The guarantee will secure long-term financing for OCP’s 2023-2030 Green Investment Program. “By leveraging our AAA rating to mobilize international capital, we support OCP Group’s transition toward low-carbon footprint fertilizer production, renewable energy development, and sustainable water management, essential pillars for food and climate security across the continent,” stated Achraf Tarsim, AfDB country manager for Morocco.
Mobilized resources will contribute to projects reducing greenhouse gas emissions, developing clean energy, and improving operational efficiency in water and energy management. They will also support initiatives promoting soil health preservation and sustainable agricultural practices.
This operation facilitates financing a green investment portfolio preventing over 43 million tons of CO₂ emissions during 2026-2038 while promoting thousands of job creations, particularly for youth and women. The guarantee represents a significant milestone in Morocco’s climate finance mobilization, demonstrating how multilateral development bank instruments can catalyze private sector green investments.
The project aligns with the Bank’s Four Cardinal Points strategy, specifically aiming to unlock Africa’s financial potential and attract capital necessary for sustainable development financing across the continent, alongside developing value-added resilient infrastructure.
OCP’s green investment program encompasses renewable energy installations, sustainable water management systems, and low-carbon fertilizer production technologies supporting the company’s 2040 carbon neutrality target while strengthening Morocco’s position as a regional leader in sustainable agriculture and phosphate processing.
