<div align="center">
  <h2><strong>Ready to apply for the Asia Climate Solutions Design Grant?</strong></h2>

  <div style="display: flex; justify-content: center; margin-top: 10px;">
    <div style="text-align: left; line-height: 1.6;">
      ✓ I have read the eligibility guidelines and am eligible to apply<br>
      ✓ I have read the FAQs<br>
      ✓ I have reviewed the Application and Review Process<br>
      ✓ I am ready to receive catalytic grant funding and accelerator support
    </div>
  </div>

  <br>

  <p><strong>
    Apply now at this 
    <a href="https://convergence.submittable.com/submit">link</a>
    by 11 January 8pm ET/ 12 January 9am SGT (GMT+8).
  </strong></p>
</div>
<br>

## Selection Process

## Step 1: Concept Note (Accepting Until 11 January 2026).
<ul>
  <li>Interested applicants can start their application on our application portal. Step 1 includes screening questions and submission of a concept note plus supplemental materials (e.g., pitch deck).</li>
  <li>Concept notes are reviewed on a rolling basis — early submission is encouraged.</li>
  <li>Eligible notes are assessed against the evaluation criteria. Only shortlisted applicants will be contacted for Step 2.</li>
  <li>Unsuccessful applicants will be notified, but feedback cannot be provided due to expected volume.</li>
</ul>

## Step 2: Full Proposal (By Invitation Only — Tentative deadline: 8 February 2026).
<ul>
  <li>Selected applicants will be invited to submit a full proposal.</li>
  <li><strong>Application Review:</strong> Full proposals are evaluated against the criteria. Additional information may be requested.</li>
</ul>

## Step 3: Shortlisting, Pre–Due Diligence & Due Diligence (February – March).
<ul>
  <li><strong>Pre–Due Diligence Interviews:</strong> Shortlisted applicants will undergo interviews or Q&A sessions with Convergence’s team.</li>
  <li><strong>Due Diligence:</strong> Two streams take place in parallel:
    <ol>
      <li><em>Proposal-level:</em> Detailed questions, stakeholder interviews, and document reviews.</li>
      <li><em>Applicant-level:</em> Compliance checks including incorporation certificate, audited financials (last 2 years), organogram, pitch deck, etc.</li>
    </ol>
  </li>
</ul>

## Step 4: Investment Committee (April).
<ul>
  <li>Proposals that pass due diligence are recommended to the Investment Committee (IC).</li>
  <li>The IC is composed of independent experts who provide recommendations for final approval.</li>
  <li>Applicants who do not pass IC or due diligence will be notified.</li>
</ul>

## Step 5: Final Approval & Compliance Checks (April – May).
<ul>
  <li>Proposals approved by the IC undergo final compliance and grant budget review.</li>
  <li>Convergence Senior Management or the Board provides final sign-off.</li>
</ul>

## Step 6: Contracting & Announcement (May).
<ul>
  <li>Selected awardees proceed to contracting, which details design activities and milestones.</li>
  <li>Awardees will be publicly announced after contracting.</li>
  <li>High-quality finalists who do not receive funding may also be acknowledged publicly.</li>
</ul>

## Notes
<ul>
  <li>Only one application per organization per funding cycle.</li>
  <li>Feedback on concept notes or proposals is not guaranteed.</li>
  <li>All proposals must be submitted in English.</li>
</ul>

<p>
  Follow our 
  <a href="https://www.convergence.finance/news">News</a>
  and 
  <a href="https://www.linkedin.com/company/convergenceblendedfinance/">LinkedIn</a>
  channels for updates.
</p>


ACS: Apply Now

max-WZM9IcX5plw-unsplash

The Asia Climate Solutions (ACS) Design Grant will provide early-stage grants for high-impact climate financing solutions in emerging markets in Asia. The Grant aims to mobilize private capital at scale into high-impact target sectors across climate mitigation and adaptation.

Overview

FAQs

Apply Now

News and Events

Resources

MAS Monetary Authority of Singapore.svg

Monetary Authority of Singapore

DFAT Logo Hi-res

Australian Department of Foreign Affairs and Trade

UBS optimus colour

UBS Optimus Foundation

Olayan-logo transparent

Olayan Group

RF logo screen green

The Rockefeller Foundation

Flora Ji

Global Vice President, Nature Based Solutions, Shell

Geoffrey Seeto

Head of Emerging Markets, New Forests Asia (Singapore) PTE LTD.

Jesse Ang

Independent Director, BPI/ACEN

Karen Tsang-Hounsell

KarenTsangHounsell hs cropped

Head of Business Development, InfraCo Asia

<a id="overview"></a>
<a id="overview"></a>
<h2>Overview</h2>

The Asia Climate Solutions (ACS) Design Grant, supported by leading donors including MAS, DFAT Australia, Olayan Group, UBS Optimus Foundation, and The Rockefeller Foundation, provides grant funding and acceleration support to catalyze innovative blended finance solutions that mobilize private capital for climate resilience across developing Asia.

According to the [International Monetary Fund](https://www.imf.org/en/blogs/articles/2024/01/29/explainer-how-asia-can-unlock-800-billion-of-climate-financing), developing countries in Asia require at least $1.1 trillion annually for climate mitigation and adaptation. However actual investments amount to only $333 billion, leaving a shortfall of about $800 billion. This gap is most pronounced in sectors such as the blue economy, clean energy, and sustainable cities and infrastructure, driven largely by factors like the heavy reliance on public funding, a limited pipeline of bankable projects, and policy uncertainties. Blended finance, which uses concessional public or philanthropic capital to de-risk investments, offers a pathway to mobilize private capital into projects that would otherwise be considered too risky. 

To address these financing gaps, the current grant cycle will support feasibility and proof-of-concept solutions, particularly in these high-priority sectors including the blue economy, clean energy and sustainable cities & infrastructure. The emphasis is on commercially viable models that leverage blended finance to advance climate mitigation and adaptation initiatives benefiting local communities across Asia-Pacific.

__Join us for a virtual information session on the 17th December at 10.30 am Singapore time (GMT+8). Register__ [__here__](https://www.convergence.finance/calendar/1uTiJWjAr3mWaGcQlyhOkn/view).
<br>

<a id="programme-offerings"></a>
<h2>Programme Offerings</h2>

The Accelerator consists of two core components:
<table border="1" cellpadding="10" cellspacing="0" style="border-collapse: collapse; width: 100%;">
  <thead>
    <tr>
      <th>Catalytic Grant Funding</th>
      <th>Acceleration Support</th>
    </tr>
  </thead>

  <tbody>
    <tr>
      <td>
        • Eligible organizations can apply for catalytic grants of up to $300k to support the development of blended finance solutions, from scoping and proof-of-concept.<br><br>
        • These grants will support key design and implementation activities like legal and financial structuring, pipeline development, fundraising, piloting, and setting up impact measurement frameworks.<br><br>
        <a href="/accelerator/acs#types-of-grants"><strong>Types of Grants</strong></a>
      </td>
      <td>
        • Ongoing technical feedback and guidance to refine investment models and strategies.<br><br>
        • Opportunities to connect with Convergence’s network of investors and ecosystem partners to expand partnerships and mobilize resources for climate action.<br><br>
        • Access to Convergence’s member trainings, blended finance data, market insights, and peer-learning opportunities.
      </td>
    </tr>
  </tbody>
</table>

<br>

<a id="types-of-grants"></a>
<h2>Types of Grants</h2>

Applicants can apply for the following types of catalytic grants:
<table border="1" cellpadding="10" cellspacing="0" style="border-collapse: collapse; width: 100%;">
  <thead>
    <tr>
      <th>Grant Types</th>
      <th>Feasibility Study</th>
      <th>Proof-of-Concept</th>
    </tr>
  </thead>
  <tbody>
    <tr>
      <td><strong>Definition and Uses of grant</strong></td>
      <td>
        Funding may be sought to explore the feasibility of a new solution and validate its potential.<br><br>
        Example activities include:<br><br>
1. Scoping and refining design and structure of vehicle (financial and legal).<br>
2. Market scoping, building initial pipeline and stakeholder consultations<br>
3. Draft impact assessment and governance frameworks.<br>
      </td>
      <td>
        At this stage, funding may be sought to support the design and structuring activities required to prepare for the vehicle’s possible launch.<br><br>
        Example activities include:<br><br>
1. Advancing fundraising and investor outreach.<br>
2. Refining the blended finance vehicle’s design and legal structure.<br>
3. Refining governance, impact frameworks.<br>
4. Investment pipeline development.
      </td>
    </tr>
    <tr>
      <tr>
      <td><strong>Maturity of the Solution and Pre-requisite</strong></td>
      <td>
        Developed initial design and structure of the blended finance vehicle, the impact and investment thesis, and early stakeholder engagement.
      </td>
      <td>
        Refined the financial model, capital structure, impact analysis, and governance with advanced engagement with potential investors
      </td>
    </tr>
    <tr>
      <tr>
      <td><strong>Amounts</strong></td>
<td>Up to $200k</td>
<td>Up to $300k</td>
    </tr>
    <tr>
      <td><strong>Type of funding</strong></td>
      <td>Non-repayable grants</td>
      <td>Non-repayable or conditionally repayable grants</td>
    </tr>
  </tbody>
</table>
<br>

<a id="eligibility-criteria"></a>
<h2>Eligibility Criteria</h2>
  <p><strong>Purpose:</strong></p>

<ul>
  <li>Proposals must articulate a clear need for grant support for the design and/or launch of an innovative blended finance vehicle.</li>
  <li>Solutions must target climate mitigation and/or adaptation.</li>
  <li>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.</li>
  <li>Vehicle must demonstrate potential to drive private investment at scale for development impact in Asia-Pacific.</li>
</ul>

  <p><strong>Applicant types:</strong> 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.</p> 
  <p><strong>Focus geography:</strong> Proposals target one or more developing market(s) in Asia. Applicants do not need to be domiciled in a developing market(s) but end beneficiaries and target activities must.</p>
  <p><strong>Focus sectors:</strong> The thematic focus for this grant cycle is on solutions targeting the following sector(s) and sub-sector(s). Examples of sub-sectors include:</p>

<ul>
  <li><strong>Clean Energy Transition</strong>
    <ul>
      <li>Renewable energy generation (on-grid and off-grid)</li>
      <li>Energy efficiency</li>
      <li>Energy transmission, storage, and distribution</li>
    </ul>
  </li>

  <li><strong>Sustainable Cities &amp; Infrastructure</strong>
    <ul>
      <li>Sustainable infrastructure/housing</li>
      <li>Low-carbon transportation</li>
      <li>Waste and wastewater management</li>
      <li>Urban Nature-based Solutions</li>
    </ul>
  </li>

  <li><strong>Blue Economy</strong>
    <ul>
      <li>Sustainable fisheries and aquaculture</li>
      <li>Coastal protection</li>
      <li>Blue Carbon</li>
      <li>Eco-tourism</li>
      <li>Climate-related insurance and disaster resilience</li>
    </ul>
  </li>
</ul>

<a id="evaluation-criteria"></a>
<h2>Evaluation Criteria</h2>

<p>We evaluate eligible applications based on the following criteria:</p>

<p><strong>1. Development Impact:</strong></p>
<ul>
  <li>The blended finance solution is designed to deliver inclusive, measurable and significant environmental and social impact.</li>
  <li>Integration of impact across the design and implementation of the solution.</li>
  <li>Clear KPIs and use of global standards for measurement and monitoring of impact.</li>
</ul>

<p><strong>2. Track Record and Capabilities:</strong></p>
<ul>
  <li>Organization’s relevant experience in designing and managing investment vehicles.</li>
  <li>Commitment of the core team.</li>
  <li>Local presence and partnerships in target markets.</li>
</ul>

<p><strong>3. Additionality:</strong></p>
<ul>
  <li>Clear market gap and rationale for using a blended finance structuring approach.</li>
  <li>Potential to drive capital in targeted markets and create new investable opportunities.</li>
  <li>Strategic use of ACS acceleration support and catalytic grant funding to scale.</li>
</ul>

<p><strong>4. Scalability and/or replicability:</strong></p>
<ul>
  <li>Clear capital structure and fundraising strategy.</li>
  <li>Potential to mobilize private capital at scale.</li>
  <li>Pathway to scale-up, reach target size, and replicate across markets.</li>
</ul>

<p><strong>5. Innovation &amp; Demonstration Effect:</strong></p>
<ul>
  <li>Potential of the solution to create learnings for the field and be adapted or replicated by other practitioners.</li>
  <li>Developing a new model or replicating an existing model within a new market context.</li>
</ul>

<p><strong>6. Likelihood to achieve financial close:</strong></p>
<ul>
  <li>Bankability of the structure and alignment with investors’ risk–return profiles.</li>
  <li>Progress toward reaching a close and clarity on next steps.</li>
  <li>Robust risk management and governance framework.</li>
</ul>

<p><strong>7. Stakeholder Support:</strong></p>
<ul>
  <li>Support from key internal and external partners in the target region/country.</li>
  <li>Well-defined roles and engagement strategy for launch.</li>
</ul>

<p>
  For detailed evaluation criteria and scoring, refer to the Evaluation Criteria
  <a href="https://assets.ctfassets.net/4cgqlwde6qy0/Rvf2nMXWdd4jbYXjsumQa/950d7f5984ee8164b79127a923c7e2d9/Evaluation_Criteria_for_Asia_Climate_Solutions_Cycle_4.pdf"><strong>document</strong></a>.
</p>

acs infosession dec25 v2

We invite you to join us virtually for an information session on the [Asia Climate Solutions (ACS) Design Grant](https://www.convergence.finance/accelerator/acs).

The ACS Design Grant awards feasibility study and proof-of-concept grants for the design and launch of innovative blended finance solutions that mobilize private capital to sectors critical for climate transition and resilience in developing markets in Asia.

The current grant cycle will have a thematic focus on solutions in the clean energy, blue economy, and sustainable cities and infrastructure sectors. The solutions should leverage blended finance to mobilize local public, private, and philanthropic capital to scale climate mitigation and adaptation initiatives benefiting local communities across the Asia-Pacific region. 

Register for the webinar to:
- Learn more about Convergence’s Blended Finance Accelerator Program and the ACS Design Grant
- Gain insight into how to apply, grant eligibility, and evaluation criteria
- Get your questions answered, and more

The anchor donors of this initiative are the Monetary Authority of Singapore, Department of Foreign Affairs and Trade Australia, Olayan Group, UBS Optimus Foundation, and The Rockefeller Foundation.

The ACS Design Grant is now open. The deadline to submit concept notes is __January 11 at 8:00PM ET/January 12 at 9:00AM SGT__. Learn more and apply [here](https://convergence.submittable.com/submit).

Asia Climate Solutions Design Grant: Info Session

Join us virtually to gain insight into the application process for the Asia Climate Solutions Design Grant

Learn about the Asia Climate Solutions Design Grant