The Board of Directors of the African Development Bank Group approved on Wednesday a non-sovereign partial credit guarantee of up to €450 million to support the Office Chérifien des Phosphates (OCP) Group.

Launched for the first time in Morocco, this financing instrument will enable OCP Group to mobilise up to €530 million in long-term funding from international financial institutions. The resources will be raised under OCP’s green finance framework to support its 2023–2030 Green Investment Programme.

“By leveraging our AAA rating to attract international capital, we are supporting OCP Group’s transition toward low-carbon fertiliser production, renewable energy development, and sustainable water management—key pillars for food and climate security across the continent,” said Achraf Tarsim, African Development Bank Country Manager for Morocco.

The financing will contribute to projects aimed at reducing greenhouse gas emissions, developing clean energy, and enhancing operational efficiency in water and energy management. It will also support initiatives promoting soil health and sustainable agricultural practices.

This programme’s green investment portfolio is expected to help avoid more than 43 million tonnes of CO₂ emissions between 2026 and 2038 and create thousands of jobs, particularly for youth and women.

The project aligns with the African Development Bank’s Four Cardinal Priorities, notably Cardinal Priority 1, which seeks to unlock Africa’s financial potential and mobilise capital for sustainable development, and Cardinal Priority 4, focused on developing resilient, value-creating infrastructure.

OCP Group is a strategic international player actively contributing to the sustainable development of the agricultural sector in Africa and worldwide.

Source: AfDB