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, visit
www.clustersolaire.ma
About IFC
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, visit
www.ifc.org
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