The European Bank for Reconstruction and Development (EBRD) has announced a €13.6 million loan to Procaneg, a subsidiary of the PROCAN Group that serves the mining industry. This funding will enable Procaneg to acquire new equipment for extracting and transporting phosphate ore, aiming to reduce diesel consumption and CO₂ emissions significantly.

In addition to the financial support, EBRD will provide technical assistance to enhance Procaneg's reporting and information systems. 

Procaneg plays a crucial role in Morocco's phosphate industry, serving the state-owned OCP Group. The OCP Group manages 75% of the world's phosphate reserves, overseeing the entire process from mining to export. This investment by EBRD is expected to bolster the efficiency and sustainability of Procaneg's operations, aligning with global efforts to reduce carbon footprints in the mining sector.

‍