The Catalytic Climate Finance Facility (CC Facility), a joint initiative by CPI and Convergence, supports the development of cutting-edge blended climate finance models into viable, scalable, and replicable investment solutions.

It offers tailored technical assistance and working capital to fast-track the growth and deployment of market-ready financial vehicles that have already run pilots or demonstrated their investment viability. The program is designed to overcome key obstacles to attracting private investment by strengthening the capacity of project proponents to gain market traction, secure funding, and expand operations.

Participants receive up to 12 months of specialized support from a dedicated team, complemented by experts in the field, senior leadership, investor engagement, communications, and operations.

Eligibility Criteria (Paraphrased)

The CC Facility supports blended finance initiatives that aim to drive climate action in developing countries. Applications are evaluated against a set of eligibility and assessment criteria, outlined below:

• Climate Focus: Proposals must target climate mitigation and/or adaptation.
• Sectoral Priorities: The upcoming application cycle will prioritize sustainable agriculture projects in Sub-Saharan Africa and/or South Asia, along with broader climate solutions relevant to the Asia-Pacific region.
• Geographic Scope: Projects must operate in developing countries. While applicants themselves do not have to be based in these regions, the activities and ultimate beneficiaries must be. Priority will be given to locally based applicants with strong contextual knowledge and stakeholder engagement.
• Development Stage: The Facility supports market-ready initiatives that are transitioning from initial adoption to scale. Eligible projects should have completed feasibility assessments, proof of concept, pilot programs, or developed a minimum viable product, and be prepared for broader deployment.
• Team and Local Engagement: Applicants should have a solid track record in the relevant sector and region, the capacity to actively participate in the CC Facility’s offerings, and a presence on the ground. A strong emphasis will be placed on local capacity building—such as the transfer of skills, leadership, and technology.
• Eligible Entities: Applications can be submitted by individual organizations or consortia, including private enterprises, fund managers, advisory firms, foundations, and not-for-profit organizations.

Public sector institutions like development finance institutions, multilateral development banks, UN bodies, and government agencies are not eligible as lead applicants or grant recipients.

The lead organization must provide valid proof of incorporation and financial statements from the previous fiscal year.

Evaluation Criteria (Paraphrased)

Eligible applications are reviewed using the following key criteria:

• Additionality:
  • How does the proposed structure differ from existing market solutions, and why are current alternatives insufficient to address the identified development challenge?
  • Does the structure tackle climate finance barriers or market failures in a novel or more effective way?
• Catalytic Impact:
  • Does the initiative support climate adaptation and/or mitigation in developing countries?
  • Can the structure be scaled up or replicated in other contexts?
• Financial Viability:
  • Are the appropriate stakeholders involved, and is there clear evidence of their commitment?
  • Is the model financially viable over the long term? How much operational runway does it currently have?
  • What needs to happen for concessional (below-market-rate) financing to be gradually phased out?
• Gender Integration:
  • Does the proposal reflect a clear understanding of gender-related challenges and opportunities relevant to the initiative?
  • Is gender equity thoughtfully integrated across the design, implementation, and outcomes of the structure—or is there a plan to enhance this integration?
• Capital Mobilization:
  • Does the structure show strong potential to attract large-scale private investment or bring in new categories of investors?

Don't miss out on the application deadline which is Thursday, April 24, at 23:59 PST.