Casablanca – Morocco’s OCP Group has signed a landmark green financing agreement worth approximately $395 million with Italian export credit agency SACE, marking a pivotal step in OCP’s ambitious transition toward sustainable industrial practices. This is the first transaction in Morocco guaranteed under SACE’s Push Strategy, and the first to be aligned with OCP’s newly adopted Green Finance Framework.

The untied export credit was arranged with the participation of BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB), and is part of OCP’s wider $13 billion green investment program for the 2023–2027 period. The agreement reinforces OCP’s position as a global leader in sustainable agriculture and nutrient solutions, while also opening new avenues for trade and industrial cooperation between Morocco and Italy.

Supporting major environmental targets

The financing will be used to accelerate key sustainability projects across OCP’s operations, with objectives that include:

• 100% use of non-conventional water—including desalinated and recycled water—by early 2025;
• Desalination capacity scaled to 560 million cubic meters annually by 2027 to ensure complete water self-sufficiency;
• A full transition to clean energy by 2027;
• Net zero carbon emissions by 2040, with Scopes 1 and 2 achieved by 2030 and Scope 3 by 2040;
• Increased production of green fertilizers to support sustainable farming and strengthen global food security.

A platform for bilateral trade

Beyond environmental outcomes, the agreement aims to boost commercial ties between Moroccan and Italian enterprises. As part of its Push Strategy, SACE facilitates financing for foreign buyers who may procure Italian goods and services, particularly from small and medium-sized enterprises (SMEs).

SACE’s business matchmaking initiatives, coordinated with key Italian stakeholders, create targeted networking opportunities between Italian exporters and international buyers. These efforts are closely aligned with the Mattei Plan for Africa, a strategic framework through which Italy is expanding partnerships across the continent in sectors such as green technology, industrial equipment, and renewable energy.

According to Michal Ron, International Director at SACE, “This initiative reinforces our commitment to promoting the ‘Made in Italy’ brand in high-value sectors. It also strengthens our commercial presence in Africa, in line with Italy’s strategic vision for deeper economic ties with the region.”

She added that the Push Strategy is a key lever for helping Italian SMEs access new international markets and build long-term relationships with strategic partners like OCP.

Financial and institutional support

The financing’s Green Loan label underscores its alignment with international sustainable finance standards. The transaction represents a significant example of how cross-border financial collaboration can support national sustainability objectives. The operation brought together expertise across multiple financial centers, including Casablanca, Milan, and Paris, to deliver a tailored green financing solution that supports Morocco’s environmental transition.

Structured under SACE’s untied mechanism, the agreement offers a long-term funding model for green infrastructure and industrial innovation. It demonstrates the strength of financial cooperation between Morocco and Italy and serves as a potential blueprint for other African countries seeking sustainable and scalable investment pathways.

Strategic alignment

This agreement reflects a growing commitment from both countries to align industrial development with sustainability targets. It also builds on OCP’s international reputation as a pioneer in green transformation, backed by over a century of operational expertise and a strong global footprint.

In 2024, OCP reported revenues of over $9 billion, employing more than 17,000 people and working with over 350 partners across five continents. The company has increasingly integrated sustainability into its value chain, from mining and processing to logistics and agricultural innovation.

For its part, SACE—which is backed by Italy’s Ministry of Economy and Finance—supports more than 60,000 companies through export guarantees, insurance, and investment facilitation. Its global portfolio exceeds $290 billion across nearly 200 international markets, making it a leading player in global trade finance.

As the world moves toward more environmentally conscious growth models, this partnership between OCP and SACE serves as a case study in how green finance, trade diplomacy, and industrial transformation can work together to achieve shared goals in innovation, sustainability, and economic development.