IFC Cluster Solaire to Help Fund Renewable Energy Startups in Morocco

The International Finance Corporation (IFC) of the World Bank Group and Cluster Solaire, the Moroccan association of solar energy stakeholders, launched the Morocco Climate Entrepreneurship program last week.Under this program, collaboration between the IFC and the Cluster Solaire will stimulate synergies between ecosystem actors, strengthen the capacity and skill set of startups and support them in raising funds, according to an IFC statement issued on Monday.Securing a greener future depends on a successful, inclusive, and sustainable energy transition economically, socially and ecologically, according to Obaid Amrane, permanent secretary of Cluster Solaire.By strengthening the capacity of Cluster Solaire and the ecosystem to support the development of companies working in clean technologies, the project hopes to expand the market of eco-friendly technologies in Morocco. The project aims to create jobs while also helping the country to mitigate and reduce climate risks.Cluster Solaire is a non-profit association, bringing together key figures in Morocco’s renewable energy sector to support green entrepreneurship and the development of a competitive industrial sector to meet the objectives of the Noor Solar Plan, launched in 2009 by King Mohammed VI.IFC, the World Bank’s sister institution within the World Bank Group, is the largest international institution for development assistance that serves the private sector in emerging countries.

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