November 22, 2016
Representatives from nearly 200 countries recently gathered at the COP22 United Nations Climate Change Conference in Morocco and pledged to move forward on the implementation of the Paris Agreement. More than 50,000 delegates attended multiple events. DAI’s Morocco Sustainable Energy Financing Facility (MorSEFF) programme shared a booth with the Moroccan Agency for Energy Efficiency in the Innovation Section at the conference.
Developed by the Bank for Reconstruction and Development (EBRD), in cooperation with French Agency for Development, European Investment Bank, and KfW Development Bank, MorSEFF is a €110 million credit facility dedicated to financing energy efficiency and small-scale renewable energy investments of private companies in Morocco, through local participating banks.
Through MorSEFF, prospective borrowers receive dedicated financing, investment incentives of 10 percent or 15 percent of the loan amount (funded by grants from the EU Neighborhood Investment Facility), and free technical assistance for project assessment and implementation by DAI’s dedicated implementation team financed by the EU NIF and the SEMED Multi-Donor Fund. MorSEFF has so far issued 50 loans worth €20.4 million, and another 40 are being processed, worth €20.99 million.
Meriem Elmandjra, Marketing Consultant for MorSEFF, presents at a side event.
At COP22, the MorSEFF team was also represented at the stand of Africa Climate Solutions, an engineering firm involved in the implementation of the programme. Senior members of the MorSEFF team also spoke at various side events about the unique combination of dedicated financing through local participating banks, technical assistance, and investment incentives boost the private sector’s sustainable energy investments in Morocco, resulting in lower operating costs, better quality equipment, reduced environmental impact, and improved competitiveness of companies.
During a side event organized by one of the local participating banks, BMCE Bank of Africa, consultants from MorSEFF explained how the demand for expertise in energy efficiency financing was tackled through DAI’s consultants providing free energy efficiency consulting services, support in preparing loan applications, and capacity building of loan officers in sustainable energy investments.
DAI has been named a winner in the World Trade Center Institute’s 16th Annual Maryland International Business Leadership Award program. Represented by CEO Jim Boomgard, DAI was one of seven winners chosen from a pool of 80 independently nominated companies from the state. Winning companies were selected based on their success in international business, growth in revenue and employment, and community involvement.Read More