Project profile — The establishment of the Convergence Blended Finance platform (RDFI phase III)



Overview 

CA-3-D002715001
$4,987,666
Convergence Blended Finance Inc. (CA-CRA_ACR-3937183499)
2016-03-31 - 2021-03-31
Operational
Global Affairs Canada
PFM Strategic Policy and Summits

Country / region 

• Africa, regional (25.00%)
• America, regional (25.00%)
• Asia, regional (25.00%)
• Europe, regional (25.00%)

Sector 

• Banking And Financial Services: Financial policy and administrative management (24010) (100.00%)

Policy marker 

• Gender equality (not targeted)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (not targeted)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (not targeted)

Description 

This project aims to support the establishment of a new not-for-profit organization, called Convergence Blended Finance Inc., to implement and manage the Convergence platform. Convergence is a platform that brings together public and private investors for blended finance investments in emerging and frontier markets. Blended finance refers to the strategic use of public and philanthropic funding to mobilize private capital that supports development in emerging and frontier markets. Project activities include: (1) developing a database called Investor Marketplace to connect public, philanthropic, and private investors interested in co-investing in development projects in emerging and frontier markets; (2) creating a library called Market Building Tools to provide information, tools and training on blended finance; and (3) creating an incubator called New Product Design Facility to pilot new blended finance models.

Expected results 

The expected outcomes of this project include: (1) enhanced delivery of development financing to support social goods, infrastructure and sustainable enterprises in developing countries; and (2) increased collaboration and alignment of capital by public, private and philanthropic actors to support environmentally sound and gender-sensitive social goods, infrastructure and enterprises in developing countries.

Results achieved 

N/A

Budget and spending 


Original budget $0
Planned disbursement $0
Transactions
Country percentages by sector
Type of finance Aid grant excluding debt reorganisation
Collaboration type Bilateral
Type of aid Project-type interventions
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