The sun-drenched region of the Middle East and North Africa (MENA) is emerging as a key player in the rapidly evolving market for concentrated solar power (CSP) to reduce dependency on fossil fuels and greenhouse gas emissions and expand socio-economic opportunities.
Source: World Bank
The MENA Region CSP initiative is motivated by objectives of energy security, climate change mitigation, and regional integration in the Mediterranean. A total of $750 million in CTF concessional financing is supporting the development of 960 MW of new CSP capacity across Egypt, Tunisia, Morocco, Jordan, and
Libya. Algeria is participating in a CTF-supported technical assistance program that aims to lay the foundation for scaling up CSP technologies by addressing sector-wide weaknesses, such as regulatory framework and lack of capacity and knowledge.
Ranked as the third most important economy in the MENA region and a leader in the Maghreb, Algeria is one of a handful of countries that have achieved 20% poverty reduction in the past two decades
The CIF programmatic approach to investment planning and implementation brings strategic value to CIF recipient countries. Working through a transparent, country-led process, the CIF fosters trust and collaboration among government ministries, civil society, indigenous peoples, private sector, and the MDBs that implement CIF funding. Together, they translate Nationally Determined Contributions and other national development and climate strategies into an actionable CIF investment plan. Rather than one-off projects, the plan comprises long-term, sequenced investments that mutually reinforce each other and link to other critical activities, such as policy and regulatory reform and capacity building. Under national government leadership, CIF stakeholders continue to work together to implement the plan, continually assessing progress and sharing lessons learned along the way.