Rabat, Morocco, November 26, 2018—IFC,
a member of the World Bank Group, and the Cluster Solaire, an association
of Moroccan sustainable energy actors for local industry development and
start-up incubation, today launched a new Morocco Climate Entrepreneurship
Program supporting cleantech start-ups in designing and marketing their
clean energy solutions.
IFC will collaborate with the Cluster Solaire
to improve linkages with ecosystem partners to increase the quality of
the cleantech pipeline and the investment readiness of firms to access
early stage funding. IFC will also work jointly with the Cluster to improve
its business model and the services it provides to cleantech firms.
“Securing a greener future depends on pursuing
an inclusive, economically, socially and environmentally beneficial energy
transformation,” said Obaid Amrane, Permanent Secretary of Cluster Solaire.
“Thanks to IFC support, we will be able to create the necessary bridges,
develop synergies, stimulate innovation, build capacity, and unlock access
to finance to accelerate clean business development in line with Morocco's
national clean energy goals.”
By building the capacity of the Cluster Solaire
and local ecosystem players to support and scale climate technology businesses,
the project is expected to help unlock the country’s clean technology
markets. This will help create high-quality jobs in these sectors while
also helping Morocco mitigate climate-related challenges.
“Supporting the Cluster Solaire and key partners
to better help entrepreneurs will allow smaller businesses and start-ups
acquire the skills and financing they need to grow, create jobs and contribute
to Morocco’s growth and climate targets,” said Alejandro Alvarez de la
Campa, IFC Finance, Competitiveness and Innovation Manager for the Middle
East and Africa.
Support to climate entrepreneurs is a key
component of IFC’s creating markets and climate strategies. Innovation
projects in climate sectors drive growth and climate mitigation and adaptation
to improve countries’ resilience to climate change.
About Cluster Solaire
The Cluster Solaire is a non-profit organization
aiming to develop a competitive and sustainable Moroccan green industry
able to answer the ambitious targets of the national strategy. The cluster
supports a broad range of SMEs and start-ups from ideas to market. It has
over 80 SME members, has supported 35 cleantech start-ups, and has delivered
over 200 days of training to members and the public. For more information,
IFC—a sister organization of the World Bank
and member of the World Bank Group—is the largest global development institution
focused on the private sector in emerging markets. We work with more than
2,000 businesses worldwide, using our capital, expertise, and influence
to create markets and opportunities in the toughest areas of the world.
In fiscal year 2018, we delivered more than $23 billion in long-term financing
for developing countries, leveraging the power of the private sector to
end extreme poverty and boost shared prosperity. For more information,