The deadline to apply is Sep 28, 2026, 09:00 PM EST
Overview
The Asia Climate Solutions (ACS) Design Grant provides grant funding and acceleration support to catalyze innovative blended finance solutions that mobilize private capital for climate resilience across developing Asia. The ACS Design Grant is one of Convergence's regional blended finance accelerators.
Supported by the Australian Government through the Department of Foreign Affairs and Trade (DFAT), this funding cycle will support innovative blended finance solutions that mobilize capital for climate-resilient agriculture and nature-based solutions across Southeast Asia.
Agriculture is central to economic growth, employment and food security across Southeast Asia, accounting for around 10% of regional GDP and employing approximately one-third of the workforce. At the same time, the region holds around 30% of the world's nature-based solutions potential, yet climate change, environmental degradation and persistent financing gaps continue to constrain investment in resilient agricultural systems and natural ecosystems. Women farmers are particularly affected, often facing barriers to finance, markets and productive resources. This funding cycle will support blended finance models that strengthen climate-resilient agriculture and/or other nature-based solutions. The programme seeks commercially viable blended finance models that can mobilize public, philanthropic and private capital to deliver climate and development outcomes at scale.
ACS is a multi-donor funded programme with anchor support from Australia's DFAT, Olayan Group, UBS Optimus Foundation, The Rockefeller Foundation, and the Monetary Authority of Singapore (MAS).
Join Convergence and DFAT for a virtual information session on September 10 at 10:00AM SGT (GMT+8) to learn more about the funding priorities, eligibility criteria and application process. Register here.
Programme Offerings
The Accelerator consists of two core components:
| Catalytic Grant Funding | Acceleration Support |
|---|---|
|
• Eligible organizations can apply for catalytic grants of up to USD 350k to support the development of blended finance solutions, from scoping and proof-of-concept. • These grants will support key design and implementation activities like legal and financial structuring, pipeline development, fundraising, piloting, and setting up impact measurement frameworks. Type of Grants |
• Ongoing technical feedback and guidance to refine investment models and strategies. • Opportunities to connect with Convergence’s network of investors and ecosystem partners to expand partnerships and mobilize resources for climate action. • Access to Convergence’s member trainings, blended finance data, market insights, and peer-learning opportunities. |
Type of Grants
Applicants can apply for the following types of catalytic grants::
| Grant Types | Feasibility Study | Proof-of-Concept |
|---|---|---|
| Definition and Uses of grant |
Funding may be sought to explore the feasibility of a new solution and validate its potential. Example activities include: 1. Scoping and refining design and structure of vehicle (financial and legal). 2. Market scoping, building initial pipeline and stakeholder consultations 3. Draft impact assessment and governance frameworks. |
At this stage, funding may be sought to support the design and structuring activities required to prepare for the vehicle’s possible launch. Example activities include: 1. Advancing fundraising and investor outreach. 2. Refining the blended finance vehicle’s design and legal structure. 3. Refining governance, impact frameworks. 4. Investment pipeline development. |
| Maturity of the Solution and Pre-requisite | Developed initial design and structure of the blended finance vehicle, the impact and investment thesis, and early stakeholder engagement. | Refined the financial model, capital structure, impact analysis, and governance with advanced engagement with potential investors |
| Amounts | Up to AUD 200k | Up to AUD 350k |
| Type of funding | Non-repayable grants | Non-repayable or conditionally repayable grants |
Eligibility Criteria
Purpose:
- Proposals must articulate a clear need for grant support for the design and/or launch of an innovative blended finance vehicle.
- Solutions must target climate mitigation and/or adaptation in the eligible sectors identified below.
- The proposed solution should be a financial instrument with a blended finance structure. It can be in the form of a fund, project finance vehicle, private company, bond, results-based financing, facility, or any other type of financial instrument.
- Vehicle must demonstrate potential to drive private investment at scale for development impact in Southeast Asia.
Applicant types: Proposals will only be accepted from organizations or consortium of organizations. For example, eligible organizations could include asset owners, asset managers, advisory firms, foundations, not-for-profit organizations, and private enterprises. The lead organization must be able to provide 1) proof of incorporation, and 2) financial statements for the previous fiscal year.
Focus geography: Proposals must target one or more of the following Southeast Asian countries:
- Cambodia
- Indonesia
- Lao PDR
- Malaysia
- Myanmar
- Philippines
- Thailand
- Timor-Leste
- Vietnam
Focus sectors: The thematic focus for this funding cycle is on blended finance solutions targeting the following sectors and sub-sectors:
- Climate-resilient Agriculture & Food Security
- Climate-smart, regenerative agriculture, and sustainable aquaculture
- Agricultural value chains, processing and market access
- Farmer, cooperative, and agri-SME finance
- Agricultural insurance and climate risk management
- Agri-tech, biotechnology, and smart farming
- Other Nature-Based Solutions Sectors
- Sustainable forestry, landscape restoration, and ecosystem management
- Carbon markets and natural capital finance (including biodiversity finance and blue carbon)
- Biodiversity conservation and ecosystem restoration
- Coastal protection, watershed management, and ecosystem resilience
Evaluation Criteria
We evaluate eligible applications based on the following criteria:
1. Development Impact and Gender Considerations:
- The blended finance solution is designed to deliver inclusive, measurable and significant environmental and social impact.
- Gender considerations are intentionally integrated into the design, governance, implementation, and stakeholder engagement of the solution.
- Clear KPIs, including gender-related indicators where appropriate, and the use of recognised global standards to measure, monitor, and report impact.
2. Track Record and Capabilities:
- Organization’s relevant experience in designing and managing investment vehicles.
- Commitment of the core team.
- Local presence and partnerships in target markets.
3. Additionality:
- Clear market gap and rationale for using a blended finance structuring approach.
- Potential to drive capital in targeted markets and create new investable opportunities.
- Strategic use of ACS acceleration support and catalytic grant funding to scale.
4. Scalability and/or replicability:
- Clear capital structure and fundraising strategy.
- Potential to mobilize private capital at scale.
- Pathway to scale-up, reach target size, and replicate across markets.
5. Innovation and Demonstration Effect:
- Potential of the solution to create learnings for the field and be adapted or replicated by other practitioners.
- Developing a new model or replicating an existing model within a new market context.
6. Likelihood to achieve financial close:
- Bankability of the structure and alignment with investors’ risk–return profiles.
- Progress toward reaching a close and clarity on next steps.
- Robust risk management and governance framework.
7. Stakeholder Support:
- Support from key internal and external partners in the target region/country.
- Well-defined roles and engagement strategy for launch.
For detailed evaluation criteria and scoring, refer to the Evaluation Criteria document.
