- The Board of Directors of AfDB has approved the allocation of a €450 million non-sovereign partial credit guarantee in favour of the OCP Group.
- The mobilised resources will contribute to the rollout of projects aimed at reducing greenhouse gas emissions, expanding clean-energy capacity, and enhancing operational efficiency in both water and energy management.
The Board of Directors of the African Development Bank Group (AfDB) has approved the allocation of a €450 million non-sovereign partial credit guarantee in favour of the OCP Group.
Implemented for the first time in Morocco, this new financing instrument aims to enable OCP Group to raise up to €530 million in debt financing from international financial institutions, aligned with its green financing framework, in order to secure the long-term funding of its 2023-2030 Green Investment Program, the AfDB said in a press release.
“By leveraging our AAA credit rating to mobilise international capital, we are supporting OCP Group’s transition toward low-carbon fertiliser production, the development of renewable energy, and sustainable water management, which are all essential pillars for food and climate security across the continent,” said Achraf Tarsim, AfDB Country Manager for Morocco.
The mobilised resources will contribute to the rollout of projects aimed at reducing greenhouse gas emissions, expanding clean-energy capacity, and enhancing operational efficiency in both water and energy management. They will also support initiatives to preserve soil health and promote sustainable agricultural practices.
This operation will help finance a green investment portfolio designed to avoid more than 43 million tonnes of CO₂ emissions over the 2026-2038 period, while fostering the creation of thousands of jobs, particularly for youth and women.
The project forms part of the Bank’s High Five strategic priorities, which notably aim to unlock Africa’s financial potential and attract the capital required for sustainable development across the continent, as well as to develop resilient, value-creating infrastructure.