<\/p>\n
The agreement, signed in Rabat on May 22, is intended to facilitate the mobilisation of around $572 million in green financing from international banks, including Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and BNP Paribas.<\/p>\n
<\/p>\n
The financing will support OCP Group\u2019s 2023 to 2030 investment programme, which focuses on expanding operations and improving efficiency across its production systems. The guarantee is expected to help secure long-term funding from international financial institutions.<\/p>\n
<\/p>\n
The AfDB said the arrangement is designed to support projects linked to energy transition and water management. The initiative also aims to strengthen agricultural systems by improving access to fertiliser and supporting more sustainable farming practices.<\/p>\n
<\/p>\n
Achraf Tarsim, Country Manager for the AfDB in Morocco, said the guarantee enables the mobilisation of international capital to finance investments in lower-carbon production and renewable energy. Tarsim said the programme also supports the development of water management systems.<\/p>\n
<\/p>\n
The agreement is part of efforts to align financing with broader development priorities, including infrastructure and industrial development. It also contributes to the Bank\u2019s strategy of supporting large-scale investment and strengthening value chains.<\/p>\n
<\/p>\n
For OCP Group, the agreement marks the transition to the implementation phase of its investment programme. Younes Kchia, Chief Financial Officer of OCP Group, said the financing will support projects aimed at improving resource efficiency and reducing environmental impact.<\/p>\n
<\/p>\n
The investments are expected to focus on reducing greenhouse gas emissions, expanding renewable energy use and improving water and energy efficiency in industrial operations. Additional objectives include supporting agricultural productivity and soil management.<\/p>\n
<\/p>\n
The AfDB said the guarantee reflects increased use of financial instruments to support development projects in Africa. The initiative is expected to contribute to efforts aimed at strengthening food security and promoting sustainable industrial activity.<\/p>\n
<\/p>\n
–AfDB\/ChannelAfrica–<\/p>\n","protected":false},"featured_media":35235,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-35153","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The African Development Bank Group (AfDB) has approved a partial credit guarantee of about $486 million to support an investment programme by Morocco-based fertiliser producer OCP Group.","published_date":"","news_description":"The African Development Bank Group (AfDB) has approved a partial credit guarantee of about $486 million to support an investment programme by Morocco-based fertiliser producer OCP Group.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/35153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/35153\/revisions"}],"predecessor-version":[{"id":35239,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/35153\/revisions\/35239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/35235"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=35153"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=35153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}