The OCP and SACE group, Italian public public group and insurance, signed a green financing agreement of 365 million euros. This funding is the first of its kind as part of the Green Finance Framework of OCP and also marks the first guaranteed operation in Morocco via the Sace Push Strategy. The objective is to support the ecological transition of the Moroccan group, while promoting Italian exports.
Funding will support the green investment program of $ 13 billion in OCP over the period 2023–2027. This plan targets water autonomy thanks to the exclusive use of unconventional water from 2025, and a desalination capacity of 560 million m³ by 2027. OCP also aims to use 100% renewable energy by 2027, and complete carbon neutrality by 2040. The agreement goes beyond simple funding. It opens up new commercial prospects between OCP and Italian suppliers, thanks to connecting initiatives facilitated by SACE. The “push” strategy allows Italian companies to set up on foreign markets, in particular in Africa, within the framework of the Mattei Plan. The representatives of the two countries welcomed fruitful cooperation.
The Italian ambassador to Morocco, Armando Barucco, underlined the strengthening of economic ties, while the managers of SACE, OCP, BNP Paribas and Crédit Agricole CIB put forward financial innovation, sustainability, and positive benefits for the two economies.
M.BA.
