International Development Grant
Supporting Convergence: the global network for blended finance
Project Number: CA-3-P001361008
Status: Operational
Country/Region: Unknown
Regional Focus:
Maximum Contribution: $7,016,984.00
Start Date: June 25, 2021
End Date: March 31, 2026
Duration: 4.8 years
Project Description
This project aims to increase the capital invested particularly from non-traditional sources of development finance to support projects in developing countries to address the financing gap of the Agenda 2030 for Sustainable Development Goals (SDGs). Project activities include: (1) connecting investors and investees on Convergence’s investment network platform; (2) providing donors non-governmental organizations and private sector actors with blended finance market building tools; and (3) providing an incubator called the design funding facility to advance innovative blended finance and results-based finance solutions and attract additional funding for a significant impact on development.
Expected Results
The expected outcomes for this project include: (1) increased access to viable new blended finance products; and (2) enhanced collaboration using blended finance models including the design funding facility and the investment network.
Progress & Results Achieved
Results achieved as of March 2024 include: (1) hosted 70 training and engagement events attended by 2 500 blended finance practitioners; (2) produced analytical reports covering data on 1 100 historical deals 34 case studies 24 data briefs 16 policy and research reports and 3 toolkits and primers; (3) awarded 66 grants totaling USD 17 million to support the incubation and scaling up of innovative finance initiatives that contribute to the blended finance market globally; (4) developed 119 paid membership to Convergence’s online service platforms; (5) funded and coached 37 organizations that have mobilized USD 1.9 billion to support development initiatives in developing countries; and (6) contributed to mobilizing USD 2.18 billion in development finance as part of a contribution towards filing the USD 4 trillion financing gap for SDGs.
Key Information
Executing Agency:
Convergence Blended Finance Inc.
Reporting Organization:
Global Affairs Canada
Program:
YFMInternaAssistPartnershp&Programing Br
Last Modified:
September 19, 2025
Development Classifications
DAC Sector:
Aid Type: Core support to NGOs other private bodies PPPs and research institutes
Collaboration: Bilateral core contributions to NGOs and other private bodies / PPPs
Finance Type: Aid grant excluding debt reorganisation
Selection Mechanism:
Department-Initiated