AfDB Secures $572 Million for OCP Program as Morocco Fertilizer Group Starts 2023-2030 Rollout
Updated
Updated · channelafrica.co.za · May 23
AfDB Secures $572 Million for OCP Program as Morocco Fertilizer Group Starts 2023-2030 Rollout
1 articles · Updated · channelafrica.co.za · May 23
Summary
$572 million in green financing is set to be mobilized for OCP Group after the African Development Bank signed a guarantee agreement in Rabat on May 22.
The backing is meant to unlock long-term funding from international banks including Société Générale and BNP Paribas for OCP's 2023-2030 investment program.
OCP said the deal moves the program into implementation, funding lower-carbon production, renewable energy expansion, and water and energy efficiency upgrades across its industrial operations.
The package also targets water-management systems, fertilizer access, soil management and broader agricultural productivity, linking the industrial investment to food-security goals.
For AfDB, the guarantee reflects wider use of risk-sharing tools to channel international capital into African energy-transition, infrastructure and value-chain projects.