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Convergence and CPI launch Catalytic Climate Finance Facility to accelerate the implementation of climate finance solutions
05/09/2023 Since 1 year

The Catalytic Climate Finance Facility (CC Facility) launched an open call for early-stage and market-ready blended climate finance vehicles seeking grant funding and technical support for scaling up. With an initial size of USD 12 million, the CC Facility has plans to increase its funding up to USD 100 million. The CC Facility is a partnership between Convergence and Climate Policy Initiative (CPI), two global leaders in blended and climate finance.

The CC Facility will select promising solutions to launch and scale through grant funding and dedicated acceleration services to sectors that are severely under-financed in developing countries.

With funding from three anchor donors, Bill & Melinda Gates Foundation, Global Affairs Canada, and Australia’s Department of Foreign Affairs and Trade, the CC Facility targets one of the main barriers in the development process of a climate blended finance idea: the acceleration stage, when solutions face a critical valley of death, taking longer to resume operations due to a lack of support.

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