INSTRUMENT ANALYSIS

Social Infra Ventures (SIV) is developing a model for affordable housing in Morocco that integrates climate resilience and gender-responsive design. The instrument utilizes a combination of equity and mezzanine debt to fund a pilot project of 250 units, with the long-term goal of listing its rental portfolio as a Real Estate Investment Trust (REIT) on the Moroccan stock exchange to create a self-funding mechanism for expansion. SIV targets secondary cities to reduce land costs and focuses on underserved populations, particularly women, by providing both rental and sale options and incorporating childcare and safety features into community design. Environmentally, the project adheres to IFC EDGE and Building Resilience Index standards to reduce carbon emissions and increase adaptive capacity.

• SIV's financial model aims to create a self-sustaining ecosystem by listing its rental platform as a Real Estate Investment Trust (REIT) on the Moroccan stock exchange, using the proceeds to fund future development phases.
• The instrument is designed to address specific gender-based barriers in Morocco, such as a 25 percentage point gender gap in access to financial services and a 17.4% literacy gap between men and women.
• SIV targets secondary cities in Morocco for its pilot phase to overcome the high cost and low availability of land in primary cities.
• The project's environmental strategy utilizes IFC EDGE and the Building Resilience Index (BRI) to ensure buildings are at least 20% more efficient in energy, water, and embodied carbon than local practices, with an ambition for 'EDGE Advanced' status targeting 40% energy savings.
• A pilot project in Northern Morocco is planned for 250 units with a CAPEX of EUR 6.6 million and an expected Internal Rate of Return (IRR) of 20%.
• SIV plans to scale its operations to develop 22,000 units in Morocco over 10 years, with a total estimated capital leverage of just under EUR 500 million, before expanding into West, Northern, and East Africa.

APA

Climate Policy Initiative (2023). INSTRUMENT ANALYSIS. https://www.climatepolicyinitiative.org/wp-content/uploads/2023/09/SIV_Instrument-Analysis_vFinal.pdf

Chicago

Climate Policy Initiative. INSTRUMENT ANALYSIS. 2023. https://www.climatepolicyinitiative.org/wp-content/uploads/2023/09/SIV_Instrument-Analysis_vFinal.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=INSTRUMENT ANALYSIS |date=September 2023 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2023/09/SIV_Instrument-Analysis_vFinal.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2023instrument, author = {{Climate Policy Initiative}}, title = {{INSTRUMENT ANALYSIS}}, institution = {Climate Policy Initiative}, year = {2023}, month = sep, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2023/09/SIV_Instrument-Analysis_vFinal.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }