Morocco: African Development Bank Approves €450 Million Guarantee to Support OCP in Raising €530 Million

The African Development Bank (AfDB) has introduced a new financing instrument in Morocco, aimed at enabling the OCP Group to mobilize up to €530 million from international financial institutions. This funding will support the long-term financing of its Green Investment Program for 2023-2030. Achraf Tarsim, the AfDB's country manager for Morocco, stated, "By leveraging our AAA rating to attract international capital, we are supporting OCP's transition to low-carbon fertilizer production, the development of renewable energy, and sustainable water management. These are essential pillars for food and climate security on the continent." The resources mobilized will contribute to projects designed to reduce greenhouse gas emissions, develop clean energy, and enhance operational efficiency in both water and energy management. Additionally, they will support initiatives aimed at preserving soil health and promoting sustainable agricultural practices. This operation will facilitate the financing of a portfolio of green investments expected to prevent over 43 million tons of CO₂ emissions between 2026 and 2038, while also creating thousands of jobs, particularly for youth and women. The project aligns with the AfDB's strategic priorities, specifically Cardinal Point 1, which focuses on unlocking Africa's financial potential and attracting necessary capital for sustainable development, and Cardinal Point 4, dedicated to developing resilient infrastructure that adds value. The OCP Group is a key international player actively contributing to the sustainable development of the agricultural sector in Africa and globally.