A double first: OCP Group and SACE sign landmark green financing deal in Morocco

This strategic partnership reinforces OCP’s commitment to sustainability and innovation in plant nutrition solutions.

SACE, Italy’s insurance and financial group controlled by the Ministry of Economy and Finance, has signed an agreement to provide €365 million in green financing to OCP Group, a leader in plant nutrition solutions and phosphate-based fertilizers.

This deal marks a historic dual first: it inaugurates OCP Group’s Green Finance Framework and represents SACE’s first guaranteed facility in Morocco.

Driving sustainable growth

Structured as an export credit, this facility is backed by comprehensive insurance coverage under SACE’s 'Push Strategy' and arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB).

In line with OCP Group’s Green Finance Framework, this financing will contribute to the Group’s US$13 billion green investment programme for 2023 – 2027, enabling:

• 100% non-conventional water use since early 2025, including desalination capacity of 560 million m³ per year by 2027, ensuring complete water autonomy.
• 100% clean energy by 2027.
• Full carbon neutrality by 2040, covering Scopes 1 and 2 by 2030, and Scope 3 by 2040.
• Increased production of green fertilizers, advancing sustainable agriculture and global food security.

Beyond financing, this agreement fosters business opportunities between OCP Group and Italian suppliers, facilitated by SACE-led business matching initiatives.

SACE’s Push Strategy offers Italian companies a passport to international markets by providing financing to foreign counterparts with the potential to purchase goods and services from Italy. Business Matching — a key element of the strategy organised in collaboration with major actors of the Italian Country System — facilitates targeted meetings between Italian companies and foreign counterparts, fostering new business connections. SACE’s Push Strategy guarantee is designed to support export opportunities for Italian companies in strategic sectors relevant to the Mattei Plan in Africa, such as green technologies as well as mechanical and hydraulic components.

“The agreement between SACE and OCP represents a significant step in strengthening ties between Italy’s industrial excellence and one of Morocco’s leading economic players,” said Armando Barucco, Italian Ambassador to Morocco. “This strategic partnership not only fosters deeper economic collaboration, but also creates new business opportunities for Italian companies across multiple sectors, reinforcing a strong foundation for bilateral trade and investment.”

Michal Ron, Chief International Officer at SACE, added: “This initiative demonstrates our commitment to promoting Made in Italy and supporting Italian companies in key sectors such as infrastructure, renewable energy, and industrial machinery. It also reinforces our commercial ties with Africa, in alignment with the Mattei Plan. The Push Strategy is a vital tool to unlock new export opportunities for Italian SMEs and strengthen relationships with key international partners.”

Karim Lotfi Senhadji, Chief Financial Officer of OCP, stated: “This landmark green financing agreement with SACE is a testament to OCP Group’s unwavering commitment to sustainability and innovation. By securing this facility, we are accelerating our transition towards 100% clean energy and 100% non-conventional water, reinforcing our leadership in sustainable plant nutrition solutions. This partnership not only strengthens our financial strategy but also fosters deeper collaboration, unlocking new opportunities for sustainable growth in both Morocco and Italy.”

Abdelmajid Fassi Fihri, Head of CIB Africa at BNP Paribas and CEO of the BNP Paribas Regional Office in Casablanca Finance City, stated: “This landmark transaction with OCP, in partnership with SACE, has been a great opportunity to leverage the expertise of our Corporate and Institutional Banking teams in Casablanca, Milan and Paris in order to deliver cross-border structured financing supporting the ambitious sustainable trajectory of the Kingdom.”

André Gazal, Global Head of ECA and Multilateral Financing Solutions at Crédit Agricole CIB, stated: “OCP entrusted us to structure this financing which will serve their strategic CAPEX plans, underlying the strong ties built between OCP and Crédit Agricole CIB over the years. A Green Loan label was achieved, emphasising OCP’s commitment to a sustainable development of its activities. The use of the SACE programme allows innovative borrowers to tap new sources of long-term financing. A win-win deal for Morocco and Italy and a path to follow for robust African borrowers.”

Read the article online at: https://www.worldfertilizer.com/environment/03062025/a-double-first-ocp-group-and-sace-sign-landmark-green-financing-deal-in-morocco/