The Fund, established by the International Finance Corporation (IFC) of the World Bank Group, supports the transition of Middle East and North Africa (MENA) countries to a greener economy.
The Fund has a total value of 26.4 million dollars and supports a 4 years program (2016-2020). The Italian Ministry for the Environment, which is the main donor, participates with a co-financing of 6 million and 600 thousand euros. Other donors include: Denmark, Hungary, Japan, UK, Canada and Korea.
The objectives of the program are:
• To improve regulatory and institutional frameworks to facilitate a wider private sector involvement in green economy;
• To increase long-term investments in infrastructures to underpin more sustainable and cleaner economic growth;
• To expand the role of financial institutions to leverage funds for climate smart projects;
• To promote energy efficiency, renewable energy and a more efficient use of natural resource.
The Italian Ministry for the Environment has requested to address the interventions to Algeria, Morocco, Egypt and Tunisia.
The IFC Fund periodically launches calls; Italian companies can submit their application, after registering on the site: www.devbusiness.com.