28 May, 2025

The Subnational Climate Fund (SnCF), a 2020 Lab-endorsed blended finance vehicle, has backed a new investment in Morocco to expand cold chain infrastructure and strengthen food systems in North Africa.

Through the Fund, Pegasus Capital Advisors supported Ifria Cold Chain Development’s acquisition of Lotraf, a logistics company providing frozen, chilled, and ambient storage. The investment will help reduce food waste, boost farmer incomes, and enhance climate resilience across the region.

As reported by ImpactAlpha, the SnCF aims to mobilize USD 750 million for sustainable infrastructure across emerging markets, including a USD 150 million catalytic tranche from the Green Climate Fund (GCF). The Fund also features a technical assistance facility managed by the International Union for Conservation of Nature (IUCN) and works in partnership with the United Nations Development Programme (UNDP).