African Development Bank backs OCP with €450 million low carbon guarantee

The OCP low carbon guarantee has reached a major milestone after the African Development Bank approved a €450 million partial credit guarantee to support the Moroccan group’s industrial transformation. Signed in Rabat on May 22, 2026, the agreement will help OCP secure a €530 million green financing facility from Société Générale and BNP Paribas, providing long-term funding for its 2023-2030 investment program.

The operation marks the first guarantee of its kind in Morocco. It is designed to unlock international private capital by leveraging the African Development Bank’s AAA credit rating. The financing will accelerate investments aimed at reducing carbon emissions while strengthening renewable energy production and sustainable water management across OCP’s industrial operations.

The African Development Bank said the initiative reflects its strategy of mobilizing large-scale financing for resilient infrastructure and sustainable industrial development across Africa. According to Achraf Tarsim, the bank’s Country Manager for Morocco, the guarantee will help channel international capital toward low-carbon fertilizer production, renewable energy deployment, and improved water resource management. The institution also considers these investments essential to strengthening food security across the continent.

The financing will support projects focused on lowering greenhouse gas emissions, expanding renewable energy capacity, and improving both energy and water efficiency throughout OCP’s industrial facilities. These investments form part of the company’s broader transition toward a circular and low-carbon industrial model while modernizing its production value chain.

The agreement also includes support for sustainable agriculture, soil conservation, and stronger resilience within Morocco’s agricultural systems. OCP says the financing represents the transition from investment planning to operational implementation.

Chief Financial Officer Younes Kchia said the agreement represents a decisive step toward building a circular, low-carbon industrial model. He added that the African Development Bank’s support strengthens OCP’s capacity to invest in technologies that preserve natural resources, protect soils, and support farmers.

Beyond upgrading industrial facilities, the financial package combines climate action, water security, and food sovereignty objectives. The investment is expected to contribute to lower-carbon industrial growth while supporting Morocco’s sustainable development ambitions and broader development goals across Africa.