Applications are now open for the Indo-Pacific Design Funding Window to provide grant funding for the design and launch of catalytic blended finance solutions in certain countries in the Indo-Pacific region focused on sustainable and resilient infrastructure and / or gender equality (sector agnostic).
The Indo-Pacific Design Funding Window provides grant funding for the design and launch of catalytic blended finance solutions in certain countries in the Indo-Pacific region, focused on any of the following:
a) Climate Finance - Addressing climate change mitigation, climate change adaptation or both. Blended finance solutions with co-benefits of climate action are encouraged.
Must align with at least one of the following: SDG 7 (Clean Energy), SDG 11 (Sustainable Cities), SDG 12 (Responsible Consumption), SDG 13 (Climate Action), SDG 14 (Life Below Water), SDG 15 (Life on Land).
b) Gender Equality - Aim to make a significant contribution to gender equality outcomes.
Must align with SDG 5 (Gender Equality).
c) Blended finance solutions that also lead to climate action co-benefits like job creation are encouraged.
This Window is funded by the Australian Government.
Utilize This Offer
To be eligible for consideration for the Indo-Pacific Design Funding Window, proposals must meet the following criteria:
1. The proposal must be for a blended finance vehicle.
2. The vehicle must aim to use catalytic capital from public or philanthropic sources to attract private sector investment to the identified development challenge.
3. The vehicle must have a primary focus onsustainable and resilient infrastructure; and / or gender equality (sector agnostic).
4. The target region for the blended finance vehicle must be one or more of the “Eligible Countries” in the Indo-Pacific region.
5. The proposal will be eligible for funding only if at least 80% of the target region consists of one or more of the Eligible Countries.
6. Practitioners can only use the awarded grant funding for the design and launch of the blended finance vehicle – not for investment capital or to fund operational activities of an already established vehicle.
7. The proposal must adhere to the applicable proposal template, detailing the development challenge, proposed blended finance vehicle, key risks and mitigation strategies, design activities and costs, and the applicant’s relevant experience.
8. Proposals are only accepted from organizations or consortiums of organizations.
9. The lead organization must be able to provide proof of incorporation, and audited financial statements for the previous fiscal year.
Practitioners can apply for feasibility study or proof of concept funding:
> Proof of concept:
If a feasibility study (or equivalent) has been completed, funding to complete all design and structuring activities to launch the vehicle. For example, finalizing the capital structure and financial model, establishing the legal structure, and producing key documents. Convergence will award repayable grants up to $350,000 for proof of concept work. Determination of whether a grant is repayable will be made on a case-by-case basis.
> Feasibility study:
Funding to explore the feasibility of the vehicle. For example, assessing the investability / bankability of the transaction, conducting market scoping and developing the vehicle structure. Convergence will award grants up to $200,000 for feasibility studies. Promising feasibility studies funded through the Design Funding Window will be considered for follow-on proof of concept funding.
Applications to the Indo-Pacific Design Funding Window will be considered on a rolling basis. The upcoming application deadlines are:
• July 20, 2021;
• October 15, 2021.
For more information, please visit https://www.convergence.finance/design-funding/open-window/indo-pacific-...