CATALYST MENA CLIMATE FUND 2 (IFC-51169)

Regions
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Egypt
  • Jordan
  • Morocco
  • Pakistan
  • Tunisia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 29, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Catalyst MENA Climate Fund 2
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 29, 2025

Disclosed by Bank Nov 11, 2025

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed investment involves an equity participation into Catalyst MENA Climate Fund II (CMCF2 or the Fund) to be established by Catalyst Investment Management (Catalyst MENA). CMCF2 would be the second infrastructure fund established by Catalyst MENA following the successful raise of US$57 million in Catalyst MENA Clean Energy Fund I (CMCF1), an infrastructure fund launched in 2016.The Fund's target size is US$150-200 million with a first close target of US$70-85 million. It will focus on climate mitigation, climate adaptation and energy transition themes in the form of inter alia renewable energy infrastructure, energy storage, energy efficiency and water-related projects across the Middle East and North Africa (MENA), with a primary focus on Jordan, Egypt, Tunisia and Morocco.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

CMCF2 is an infrastructure fund seeking to invest primarily in renewable energy (RE) sub-projects. These climate investments include early-stage, construction, and operation of solar PV sub-projects in MENA with a primary focus on Jordan, Egypt, Tunisia and Morocco. Other climate-related investments may include energy storage, energy efficiency and water-related sub-projects. It is considered that such infrastructure sub-projects may have significant adverse environmental and social risks and potential impacts, particularly in relation to occupational health and safety, supply chain management, biodiversity, involuntary resettlement, or stakeholder engagement. Therefore, the Project has been categorized as FI-1 according to IFC's Policy on Environmental and Social Sustainability.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Fund is domiciled in Luxembourg with a target final size of US$150-200 million and a target 1st close of US$70-85 million by end-December 2025. The Fund targets a balanced portfolio of greenfield and brownfield projects (capped at 25% of the total commitments), spanning various development stages, from early-stage to selecting operating assets.

The proposed IFC investment is to provide up to US$15 million equity participation into CMCF2.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded in 2006, Catalyst MENA is the first investment manager in the MENA region to focus exclusively on renewable energy, energy efficiency, and energy/water technology. The Catalyst MENA team brings a combined investment experience of over 100 years, with the core team contributing more than 70 years of expertise. Catalyst MENA was among the first MENA-focused sponsors to develop solar photovoltaic (PV) Independent Power Producer (IPP) projects, starting with a 23MW project in 2014. In the long-term, it aims to develop and invest in a portfolio of over 500MW of renewable energy projects, having already contributed to more than 170MW of projects in Jordan and Egypt. Most of Catalyst MENA’s core team have worked together for over 17 years. They have deployed over US$47 million of equity into solar projects.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Catalyst Investment Management Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Catalyst Investment Management
+962 6 592 1747
info@catalystpe.com
Zahran Street 213, Zahran Tower, 6th Circle, Amman 11821 Jordan
https://catalystpe.com/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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