Deadline: April 24, 2024
Applications are invited for the Catalytic Climate Finance Facility (CC Facility) Initiative 2024. The intitative accelerates the launch and scale-up of high-impact, market-ready blended climate finance structures in developing economies.
The focus will be on sectors that are severely under-financed globally relative to the impact they can deliver. Examples include, but are not limited to, sustainable energy, encompassing just transition, universal access, and energy efficiency; sustainable cities and resilient infrastructure; sustainable agriculture and land use; and thematic areas such as nature-based solutions and gender equality. The program will have a global focus but will also have a dedicated thematic stream focused on sustainable agriculture and climate adaptation in Sub-Saharan Africa and South Asia.
Funding
- The CC Facility offers grant funding of up to USD $500,000, customized acceleration support and knowledge-sharing through a learning hub.
- Selected blended finance structures will receive grant funding and acceleration support for up to 18 months.
Eligibility
- Investment theme: Structures addressing climate adaptation and/or mitigation
- Sectors: No restriction
- Geography: Developing countries.
- Applicants do not need to be domiciled in a developing country but end beneficiaries and target activities must. Preference will be given to local applicants who demonstrate a nuanced understanding of local contexts and engagement with local stakeholders where relevant.
- Stage: Market-ready structures moving through an initial adoption stage in their development process
- This includes blended finance structures that have already been tested for feasibility, completed proof of concept, pilot(s), or a minimum viable product, and are ready to soon launch and scale.
- Team & local capacity: Proven track record and experience in targeted sector and geography, capacity and willingness to engage with the CC Facility program, and on-the-ground presence. Additionally, structures will be assessed on their ability to demonstrate local capacity development (e.g., knowledge, leadership, and technology transfer) in the target geography.
- Entity type: Organizations or a consortium of organizations, including advisory firms, foundations, not-for-profits, fund managers, and private enterprises.
- Public institutions such as development finance institutions, multilateral development banks, UN and government agencies cannot be the lead applicant or grant recipient.
Evaluation Criteria
They evaluate eligible applications based on the following criteria:
- Additionality:
- How does this structure compare to others in the market and why are the alternatives inadequate to address the development challenge at hand?
- Does this structure address climate finance barriers or a market failure in a new or more efficient way?
- Catalytic potential:
- Does the structure contribute to climate mitigation and/or adaptation in developing economies?
- Is this structure replicable and/or scalable?
- Financial sustainability:
- Are the right stakeholders involved? Do they show a sufficient level of commitment?
- Is the structure financially sustainable? How much runway does the vehicle have?
- What conditions must be met for concessional financing to be phased out?
- Gender equality:
- Is there a strong understanding of gender-related risks and opportunities in the context of the vehicle?
- Is there evidence of (or an intention to improve upon) integration of gender considerations across different aspects of the vehicle?
- Mobilization:
- Does the structure have the potential to mobilize private capital at scale and/or to attract participation from new segments of investors?
- Is there any interest (e.g., soft commitment) from potential investors and funders in the solution? How bankable/investable is the structure?
Application
For more information, visit CC Facility Initiative.
