Convergence Blended Finance Inc.
$24,212,304.00 CAD
- Department
- Global Affairs Canada
- Program
- —
- Recipient country
- Canada
- Fiscal year
- 2015-2016
- Agreement period
- March 31, 2016 – March 31, 2021
- Project status
- Implementation
- Reference
- CA-3-D002715001
Published purpose
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.
In plain English AI-generated
This project funds the establishment of Convergence Blended Finance Inc., a not-for-profit platform that connects public and private investors to mobilize private capital for development projects in emerging and frontier markets, including an investor database, a knowledge library, and an incubator for new blended finance models.
Category: Foreign Aid Development Primarily funds activity outside Canada
Based on the published description. See how AI categorization works — the linked official record is authoritative.
Community tags
Tags are applied by readers, not by this site. One tag per person per record.