African Development Bank Group (AfDB) and phosphate giant OCP Group signed a €450 million partial credit guarantee agreement in Rabat to support the company’s industrial transition and sustainability strategy, according to a statement by AfDB.
The agreement, signed on Friday, is intended to help mobilize a broader €530 million green financing facility arranged by French banks Société Générale and BNP Paribas.
The financing is part of Moroccan group OCP’s large $13 billion investment program focused on industrial modernization, energy transition projects, and sustainable water management.
According to AfDB, the initiative is intended is designed to support cleaner industrial production, strengthen agricultural resilience, and modernize phosphate and fertilizer value chains.
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