OCP secures €350 million in AFD financing for green investment program

OCP Group, one of the world’s largest producers of phosphate-based fertilizers, has secured €350 million in financing from France’s Agence Française de Développement to support a multibillion-dollar effort aimed at decarbonizing its operations and bolstering food security across Africa.

The funding agreement, signed in May, is part of a broader $13 billion green investment program OCP is pursuing through 2027. Based in Morocco, the state-backed group is targeting full reliance on clean energy by 2027 and aims to achieve carbon neutrality across its entire value chain by 2040.

The financing will be disbursed in tranches, contingent on OCP’s progress toward specific environmental targets. These include expanding renewable energy and non-conventional water capacity, advancing green hydrogen and ammonia production, and integrating climate and biodiversity metrics into corporate risk management.

OCP, which posted more than $9 billion in revenue last year and employs over 17,000 people, said it began operating fully on non-conventional water sources—such as desalinated and treated wastewater—earlier this year. The company is also scaling up infrastructure to reach a desalination capacity of 560 million cubic meters annually by 2027.

The green investment program includes a focus on fertilizers made with low-carbon inputs, notably green ammonia, to help reduce emissions from agricultural production. OCP said it aims to supply African farmers with products tailored to local soils and climates, while supporting adoption of precision agronomic practices and improving access to finance and markets.

The financing aligns with AFD’s mandate to promote inclusive, sustainable development. The French development agency operates in more than 160 countries and channels public and private capital into projects addressing climate change, biodiversity, public health, and economic resilience. AFD’s involvement in the OCP initiative reflects growing investor interest in corporate decarbonization strategies tied to measurable performance outcomes.

In a separate agreement signed in April, OCP and AFD committed financing to MAVA (Mobilizing for Agricultural Value Chains in Africa), a multi-stakeholder platform led by Morocco-based innovation hub INNOVX. The platform is intended to mobilize capital for agri-business development and strengthen food production systems across the continent.

OCP’s leadership said the two agreements represent a coordinated effort to reduce the carbon intensity of industrial fertilizer production while improving agricultural sustainability in regions most exposed to climate volatility. The initiatives are part of Morocco’s broader push to lead on low-emissions growth and secure long-term food supplies for African markets.