African Development Bank backs OCP with €450 million guarantee to support green industrial transition

The African Development Bank Group and OCP Group signed a €450 million (USD 511 million) partial credit guarantee agreement aimed at supporting OCP’s industrial transition and long-term investment program, the organizations said on May 22.

The agreement, signed in Rabat, is designed to facilitate the mobilization of a €530 million (USD 602 million) green financing facility arranged by Société Générale and BNP Paribas. The financing will support OCP’s 2023–2030 investment program, which focuses on low-carbon fertilizer production, renewable energy deployment, sustainable water management, and industrial efficiency improvements.

The African Development Bank said the transaction is the first mechanism of its kind in Morocco and reflects its strategy to mobilize private and institutional capital for energy transition and resilient infrastructure projects across Africa. According to the bank, the financing will support projects aimed at reducing greenhouse gas emissions, improving water and energy efficiency at OCP’s industrial operations, and promoting sustainable agricultural practices and soil preservation.

Achraf Tarsim, the African Development Bank Group’s country manager for Morocco, said the institution was leveraging its AAA credit rating to attract international capital for projects linked to food security, renewable energy, and low-carbon fertilizer production. OCP Chief Financial Officer Younes Kchia said the agreement marked a “decisive step” toward a low-carbon and circular industrial model, adding that the funding would help the company invest in resource preservation, soil protection, and farmer support initiatives.