Convergence is the global network for blended finance. We generate blended finance data, intelligence, and deal flow to increase private sector investment in developing countries.
We exist because traditional development aid from public and philanthropic sources is just not enough to realize the United Nations Sustainable Development Goals (SDGs) which face an annual $2.5 trillion funding gap.
At Convergence we believe that blended finance can disrupt traditional development finance as we know it, by attracting private sector funds to developing countries in volumes never before seen. The money’s there, $2.5 trillion represents less than 1% of global finance markets.
By using catalytic capital from public or philanthropic sources to scale-up private sector investment in developing countries, blended finance has the potential to result in as much as a ten-fold increase in investment. In fact, based on our data, blended finance has already mobilized over $100 billion.
We’re going to bring this number into the trillions.
Convergence was conceived under the World Economic Forum and the Organisation for Economic Co-operation and Development’s Development Assistant Committee’s (OECD-DAC’s) ReDesigning Development Finance Initiative. Convergence was designed and launched by the Global Development Incubator and Dalberg Advisors. We are funded by the Government of Canada. Past funders include the Citi Foundation and Ford Foundation.