The African Development Bank Group (AfDB) and Morocco’s OCP Group have signed a €450 million partial credit guarantee agreement aimed at accelerating the company’s industrial transition and supporting sustainable agricultural development.
The agreement, signed in Rabat on May 22, 2026, is expected to facilitate the mobilisation of a €530 million green financing facility backed by Société Générale and BNP Paribas.
According to the two institutions, the financing arrangement marks a major milestone in the implementation of OCP Group’s 2023–2030 investment programme, which focuses on low-carbon industrial development, renewable energy expansion, and sustainable water management.
First Guarantee Mechanism of Its Kind in Morocco
The African Development Bank described the agreement as the first mechanism of its kind in Morocco, highlighting its role in unlocking innovative financing solutions to support the country’s energy transition agenda.
The guarantee is expected to help OCP secure long-term financial resources from international financial institutions while enabling the rollout of key industrial transformation projects.
AfDB noted that the initiative aligns with its strategic priorities, particularly the mobilisation of large-scale capital and the development of resilient infrastructure capable of creating long-term economic value.
“The signing of this agreement reaffirms our commitment to OCP Group’s investment program,” said Achraf Tarsim, Country Manager of the African Development Bank Group in Morocco.
Focus on Renewable Energy and Sustainable Water Management
Under the agreement, resources mobilised through the financing package will support projects aimed at reducing greenhouse gas emissions, increasing renewable energy use, and improving water and energy efficiency across OCP Group’s industrial facilities.
The investment programme also seeks to promote sustainable agricultural practices, preserve soil quality, and strengthen food security across Africa and beyond.
Tarsim said the Bank was leveraging its AAA credit rating to attract international capital toward projects supporting low-carbon fertiliser production and sustainable industrial growth.
“These are strategic levers in support of food security across the continent,” he added.
OCP Targets Low-Carbon Circular Industrial Model
OCP Group Chief Financial Officer Younes Kchia described the agreement as a decisive step toward building a low-carbon and circular industrial model.
“With this agreement, we are taking a decisive step toward a low-carbon, circular industrial model,” Kchia said.
He added that the partnership with the African Development Bank would strengthen the company’s ability to invest in resource preservation, soil protection, and farmer support initiatives.
“Together, we are contributing to sustainable growth for Morocco, Africa, and global food security,” he said.
The agreement comes as African institutions and industries increasingly seek climate-friendly financing solutions to drive sustainable economic transformation and agricultural resilience across the continent.