The OCP and SACE group, an Italian insurance and finance group controlled by the Ministry of Economy and Finance, announced on Tuesday the signing of green financing of 365 million euros (M €), a first within the framework of the Green Finance Framework of the OCP and the first guaranteed operation in Morocco Push Strategy.
This partnership strengthens the OCP group’s commitment to sustainability and innovation in plant and soil nutrition solutions, said a joint press release from both parties. Structured as a credit, non -associated credit, is supported by complete insurance coverage in the context of Sace’s push strategy, and was arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB).
In accordance with the Green Finance Framework of the OCP Group, this funding will contribute to the group of $ 13 billion dollars of the group for the period 2023–2027, allowing in particular the use at 100% unconventional water as early as 2025, with a desalination capacity of 560 million m³ per year by 2027, guaranteeing complete water autonomy.
It is also 100% clean energy use by 2027, complete carbon neutrality by 2040, with scopes 1 and 2 reached by 2030, and Scope 3 by 2040, as well as the increase in the production of green fertilizers, to support sustainable agriculture and global food security.
Beyond funding, this agreement also stimulates commercial opportunities between the OCP group and Italian suppliers, thanks to business connections organized by SACE.
SACE’s push guarantee aims to support the export opportunities of Italian companies in strategic sectors of the Mattei plan for Africa, such as green technologies, but also mechanical and hydraulic components.
Armando Barucco, Italian ambassador to Morocco, welcomes support for economic collaboration, with new opportunities in multiple sectors, consolidating a solid base for trade and bilateral investments. For his part, Michal Ron, International Director of SACE, described the push strategy as an essential tool for new export opportunities to SMEs.
For its part, Karim Lotfi Senhadji, Chief Financial Officer of the OCP group underlines the role of this partnership in the transition to 100% clean energy and 100% unconventional water, for leadership in sustainable plants of plants.
