ICIEC has provided Non-Honoring of Financial Obligation for State-Owned Enterprises (NHSFO-SOE) insurance cover to the African Development Bank (AfDB) to support a Partial Credit Guarantee (PCG) aimed at securing financing for the Green Investment Programme of OCP Group in Morocco.

The transaction involves the AfDB extending a Partial Credit Guarantee that will partially cover the non-payment risk of a EUR 530 million loan provided by Société Générale and BNP Paribas to OCP Group. The financing will support eligible projects under OCP’s Green Financing Framework (GFF). ICIEC’s NHSFO-SOE policy, issued on 10 April 2026, provides insurance coverage of EUR 187 million with a tenor of 12 years, covering nonpayment risk. The African Development Bank acts as the policyholder, while OCP Group is the borrower.

Positioned within the agriculture sector, specifically fertilizers, the project supports financing under a structured guaranteed framework designed to facilitate investment under OCP’s Green Financing Framework. ICIEC plays a key role in the transaction by providing the requested insurance cover to AfDB, thereby supporting the overall financing structure and enabling the implementation of the programme in Morocco. The project aligns with the United Nations Sustainable Development Goals, including SDG 9 (Industry, Innovation and Infrastructure) by supporting sustainable industrial development, and SDG 13 (Climate Action) through facilitating green financing initiatives. Through this transaction, ICIEC reinforces its commitment to supporting sustainable investments and advancing climate-focused development initiatives across its Member States.