The OCP OCP Group, the global pioneer in the field of plant feeding solutions and phosphate fertilizers, and the SACE Insurance and Finance Group, which is subject to the observation of the Italian Ministry of Economy and Finance, has signed an agreement worth 365 million euros, within the framework of a qualitative process that falls within the “green financing” plans for the Moroccan group, and the first guaranteed transaction in the Kingdom by “Sas Bush Strategic” SACE Push Strategy.
A communiqué issued for the occasion stated that the strategic partnership enhances the commitment of the phosphate complex to sustainability and innovation in the solutions of plant and soil feeding, explaining that the structure of this financing was made in the form of credit for export, unconditional, and was supported by comprehensive insurance coverage within the framework of the SACE “payment” strategy, in coordination from the BNP BNP Bank Paribas and Credicol Bank of Corporate and Investment (CACIB).
The communication, which Hespress reached a copy of, added that the new financing will contribute, in line with the green financing framework for the phosphate complex, in the green investment program implemented by the group, and its value is $ 13 billion during the period from 2023 to 2027, where it allows in particular the use of unconventional water by 100 percent of the beginning of the current year, with a desalination capacity of up to 560 million cubic meters annually by solutions 2027, which guarantees the achievement of complete self -sufficiency in water.
The green investment program, according to the same source, allows the full use of clean energy by 2027, and the achievement of complete carbon neutrality by 2040, with the reach of the two scopes 1 and 2 for this goal by 2030, and the 3rd range in 2040; In addition to raising the production of green fertilizers, and thus supporting sustainable agriculture and global food security, stressing that in addition to financing this agreement will also stimulate business opportunities between the Italian phosphate complex and suppliers thanks to the initiatives organized by SACE to raise the level of bilateral relations.
The “payment” strategy of the SACE group provides Italian companies a passport to the international markets, by providing funding to foreign parties that are likely to buy Italian goods and services; It will also enable the establishment of labor relations, which are considered a major element in this strategy, which is organized in cooperation with the main actors, with targeted meetings between Italian enterprises and foreign partners, which contributes to strengthening new commercial ties.
In the same context, it aims to ensure special payment from SACE enhancing export opportunities for Italian contracting in the strategic sectors of the “Matti” plan in Africa, such as green technology, as well as mechanical and hydraulic parts, as “Armando Baroko”, the Italian ambassador to Morocco, explained that “the agreement between the SACE and the OCP group represents an important step in enhancing relations between Italian industrial excellence and one of the actors Pioneering economists in Morocco; in addition to this strategic partnership not only enhances economic cooperation, also creates new opportunities for Italian contracting in many sectors, which contributes to establishing a solid ground for exchanging bilateral experiences and investments.
For its part, “Michal Ron”, the international director of the SACE group, said that “this initiative embodies our commitment to strengthening the Italian industry and supporting its contracting in the main sectors, such as infrastructure, renewable energy and industrial machines, and it also enhances our commercial ties with Africa, in line with Matte Plan”, and added that “the payment strategy is a basic tool to open the doors to the chances of exporting contractors Small and medium Italian, and enhance relations with international strategic partners.
In the same context, Karim Lotfi Al -Sunhaji, CEO of Financial Affairs of the OCP Group, stated that “the opening green financing with SACE shows the Moroccan group’s steadfast commitment to sustainability and innovation.” For plants. This partnership will enhance our financial strategy and pave the way for new opportunities for sustainable growth in Morocco and Italy.
While Abdul Majeed Al -Fassi Al -Fihri, AFRIKUE CIB official at BNP Paribas, and the General Director of the Regional Office of BNP Paribas in the financial pole of Casablanca, stressed that “this important process with the phosphate complex in partnership with the Italian Foundation is a great opportunity to fill the experiences of CIB teams in Casablanca, Milan and Paris, in order to implement structural financing A cross -border sophisticated sophistication contributes to supporting the sustainable and ambition of the Kingdom. ”
And “Andrei Ghazal”, the global director of the financing of multilateral solutions and covered by export credit agencies (Multilateral & Eca Solutions Finance) at the Credit Agricole Bank, said that “giving the task of structuring this fund to the bank by the Moroccan Phosphate Complex is a support for its strategic investment plan, which reflects the strength of the relationship that We gathered the Moroccan group for many years. ”
It is noteworthy that this loan obtained the “green loan” classification, which confirms the commitment of the OCP Group to sustainable development in all its activities, while the SACE program enabled innovative borrowers to reach new sources of long -term financing, which represents a profitable deal for both Morocco and Italy, and a role model for African borrowers.
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