The OCP Group and SACE, an Italian insurance and finance group controlled by Italy's Ministry of Economy and Finance, announced on Tuesday the signing of a green financing agreement worth €365 million. This is the first financing secured under OCP's Green Finance Framework and marks the first transaction guaranteed in Morocco as part of SACE's Push Strategy. According to a joint statement, this partnership reinforces OCP's commitment to sustainability and innovation in plant and soil nutrition solutions. The financing, structured as an untied export credit, is backed by comprehensive insurance coverage under SACE's Push Strategy and was arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB). In line with OCP's Green Finance Framework, the funds will support the company's $13 billion green investment program for 2023–2027. This includes a goal to rely 100% on non-conventional water sources by early 2025, reaching a desalination capacity of 560 million m³ per year by 2027, ensuring complete water autonomy. The program also aims to achieve 100% clean energy use by 2027, complete carbon neutrality by 2040 (with Scopes 1 and 2 by 2030, and Scope 3 by 2040), and a significant increase in green fertilizer production to support sustainable agriculture and global food security. Beyond financing, the agreement also opens new business opportunities for OCP Group and Italian suppliers through business matchmaking initiatives organized by SACE. SACE's Push Strategy is designed to support Italian export opportunities in strategic sectors of the Mattei Plan for Africa, such as green technologies, as well as mechanical and hydraulic components. Armando Barucco, Italy's ambassador to Morocco, welcomed the initiative as a boost to economic collaboration, unlocking new opportunities across multiple sectors and consolidating a solid foundation for trade and bilateral investments. Michal Ron, SACE's international director, described the Push Strategy as a key tool for creating new export opportunities, particularly for SMEs. For his part, Karim Lotfi Senhadji, OCP's Chief Financial Officer, emphasized the importance of the partnership in accelerating the transition to 100% clean energy and 100% non-conventional water, with the aim of securing OCP's leadership in sustainable plant nutrition solutions.
