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    Ready to apply for the Indo-Pacific NGO Blended Finance Accelerator?
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      ✓ I have read the eligibility guidelines and am eligible to apply<br>
      ✓ I have read the FAQs<br>
      ✓ I have read the Application and Review Process<br>
      ✓ I am ready to receive catalytic grant funding and accelerator support
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    Apply now
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## Selection process

## Step 1: Call for Expression of Interest (EOI)  - Accepting until 18 November 2025

- Interested applicants can submit their EOI through the [link](https://convergence.submittable.com/submit) by __18 November 2025__. All EOI and supporting material will be screened against the [eligibility criteria](/accelerator/dfatngo#eligibility-criteria) and against the evaluation criteria where applicable.
- Convergence will only contact shortlisted applicants selected to submit a full proposal (Step 2).
- Unsuccessful applicants are notified. Due to the high volume of applications expected, we regret that at this stage we are unable to provide feedback on unsuccessful applications.

## Step 2: Step 2: Full Proposal (By invitation only - Tentative due date 15 December 2025)

- Selected Expressions of interest will be invited to submit a full proposal. Those advancing to this stage receive instructions on how to submit a proposal. Final proposals must be submitted by the 15 December 2025 deadline in order to be considered.
- **Application Review:** All full proposals will be reviewed and assessed against the evaluation criteria by Convergence. Convergence may request additional information as necessary.

## Step 3: Shortlisting, Pre-Due diligence and Due Diligence

- __Pre-Due Diligence Interviews__: Based on the review, Convergence will short-list the top proposals for Pre-Due Diligence. This may include interviews and Q&A sessions with the applicant’s management team and will include a brief presentation using the materials submitted in the full proposal. Following this, the team will short-list applicants for due diligence.
- __Due Diligence__: Shortlisted proposals will undergo two types of due diligence in parallel:
1. *Proposal-level*: Convergence will request responses to detailed questions on the proposal, and introductions to key stakeholders for interviews. Additionally, Convergence will request the applicants for key documentation to support the stage of the applicant.
2. *Applicant-level*: Applicants will undergo a compliance review led by Convergence’s Finance and Compliance team. All applicants will be required to submit key documents including incorporation certificate, audited financial statements of the last 2 years, organogram and pitch deck. Additional documents may also be requested depending on the stage/type of the grant, such as proof of investor commitments, legal documentation, etc.

## Step 4: Investment Committee

- Shortlisted proposals that satisfactorily clear due diligence will be recommended by Convergence to the Investment Committee.
- The Investment Committee is composed of independent experts who will recommend proposals to the Convergence Senior Management or Board for final approval.
- Shortlisted applicants that do not pass due diligence or IC approval are notified. Convergence may provide high-level feedback to the unsuccessful applicants.

## Step 5: Final Approval by Board & Compliance Checks

- Proposals recommended by the Investment Committee undergo a final compliance check and review of the proposed grant budget. Following that, the applications are reviewed for final approval by the Convergence Senior Management or Board.

## Step 6: Contracting and Announcement 

- Following final approval from the Convergence Senior Management or Board, Convergence initiates the contracting stage with the selected awardees.
- Convergence will execute contracts with the selected awardees that includes the design activities and key milestones agreed upon with the awardees. Announcement of the awardees will be made publicly shortly after.
- Convergence may also announce the list of applicants that made it to the final stage but did not receive the grant funding, acknowledging high quality of ideas.

## Notes:
- Convergence will only consider one application per organization per funding cycle.
- Convergence is under no obligation to provide feedback on expressions of interest or proposals.
- Proposals must be submitted in English

Follow our [News](https://www.convergence.finance/news) and [LinkedIn](https://www.linkedin.com/company/convergenceblendedfinance/) for updates.


DFAT NGO: Apply Now

Indo-Pacific NGO Blended Finance Accelerator

Supports NGOs with catalytic grant funding and acceleration support to unlock private capital for climate and gender equality initiatives in the Indo-Pacific.

Overview

FAQs

Apply Now

News and Events

Resources

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

The [Indo-Pacific NGO Blended Finance Accelerator](https://ministers.dfat.gov.au/minister/pat-conroy/media-release/innovative-indo-pacific-ngo-accelerator-boost-development-projects) is a five-year, AUD 10 million initiative launched by the Australian Department of Foreign Affairs and Trade (DFAT) in partnership with Convergence Blended Finance. The Accelerator supports NGOs to design and scale blended finance solutions that unlock private capital for climate action and gender equality in the Indo-Pacific.

Blended finance activity is growing in the Indo-Pacific region, yet funding still falls far short of what is needed to meet development goals. A major gap is the lack of investable, high-impact vehicles. NGOs are well-placed to help fill this gap, bringing local knowledge, technical expertise, and trusted community relationships. However, their role in blended finance remains limited, currently NGOs sponsor only about 6% of global blended finance deals. Persistent barriers include:
- Limited understanding of blended finance concepts and structuring approaches
- Limited expertise and resources for financial structuring and navigating regulatory restrictions
- Resource constraints and governance complexity that hinder feasibility studies and vehicle design
- Restricted access to private investors and specialized technical service providers

The Accelerator is designed to address these barriers by providing catalytic grants and dedicated acceleration support to help NGOs design and launch blended finance vehicles. In doing so, it aims to build a pipeline of investable solutions enabling them to take on roles not only as technical assistance providers, but also as impact managers and, where appropriate, fund managers. In doing so, the Accelerator will help mobilize private capital at scale, expand development impact, and set an example for the wider NGO community.

Some examples of NGO’s use of blended finance from our portfolio include Conservation International’s  [Restoration Insurance Service Company (RISCO)](https://www.convergence.finance/accelerator/grant-portfolio/2qXZj3k6t8HSd0dCflCrxs/view), The Nature Conservancy’s [Blue Bond](https://www.convergence.finance/news/53nMkbseHrNo8CBK9Um1U1/view), and Wildlife Conservation Society's [Bukit Barisan Selatan (BBS) Landscape Fund](https://www.convergence.finance/accelerator/grant-portfolio/6gehH2mZZlW0elSbwX5bLM/view).

Join us for a virtual information session on November 13, 2025 at 2:00 PM AEDT / 11:00 AM SGT. Register [here](https://www.convergence.finance/calendar/4Td69Id1h1r31bRZsAFTuq/view).
<br>

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

The Accelerator consists of two core components:
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      <th><strong>Catalytic Grant Funding</strong></th>
      <th><strong>Acceleration Support</strong></th>
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      <td data-title="Catalytic Grant Funding">
        <strong>Catalytic Grant Funding</strong>
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              <li>Eligible NGOs can apply for catalytic grants to support the development of blended finance solutions, from scoping and proof-of-concept to scale-up and expansion to reach their target size.</li>
              <li>These grants will support key design and implementation activities like legal and financial structuring, pipeline development,fundraising, piloting, and setting up impact measurement frameworks</li>
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        </div>
        <br><br>
        <a href="/accelerator/dfatngo#type-of-grants"><strong>Type of Grants</strong></a>
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      <td data-title="Acceleration Support">
        <strong>Acceleration Support</strong>
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              <li>Access to trainings, curated data and analytics, and peer-learning opportunities </li>
              <li>Opportunities to connect with Convergence’s network of investors and ecosystem partners  to expand partnerships and mobilize resources for climate action and gender equality in the Indo-Pacific</li>
              <li>Ongoing technical feedback and guidance to refine  investment models and strategies</li>
              <li>Support in navigating the unique requirements of investors active in the Indo-Pacific region.</li>
        <br><br>
        <a href="/resource"><strong>View Resources</strong></a>
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<a id="type-of-grants"></a>
<h2>Type 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%;">
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      <th>Grant Types</th>
      <th>Stage 1: Scoping/Feasibility</th>
      <th>Stage 2: Proof-of-Concept/Pilot</th>
      <th>Stage 3: Scale-up/Expansion</th>
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      <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 and warehousing or piloting investments to build a track record.
      </td>
      <td>
        After an initial blended finance vehicle pilot or launch, funding may be sought for scale-up and expansion.<br><br>
        Example activities include:<br><br>
1.Setting up/refining the legal structure.<br>
2. Operational funding to identify investment pipeline, and prepare the vehicle for scale-up.<br>
3. Support to secure additional investor commitments to reach target  close.<br>
4. Contribution to GP capital commitments to catalyze additional investors.
      </td>
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      <td><strong>Maturity of the Solution and Pre-requisite</strong></td>
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        The NGO is in the early phase of exploring a blended finance solution and has an initial theory of change and scoping exercise partners identified.
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        The NGO has completed initial feasibility work, developed an initial financial structure and model, secured internal/external buy-in, identified key partners (e.g. fund manager) and received at least 1 hard/soft commitment from an investor.
      </td>
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The NGO’s role within the vehicle is defined, and the vehicle is either investment-ready or already launched. Secured anchor investment and commitment from key implementation partners.
      </td>
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      <tr>
      <td><strong>Amounts</strong></td>
<td>Up to AUD 300,000 (~USD 200,000)</td>
<td colspan="3"> Up to AUD 840,000 (~USD 550,000)</td>
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      <td><strong>Type of funding</strong></td>
      <td>Non-repayable grants</td>
      <td colspan="3">Non-repayable or conditionally repayable grants</td>
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</table>

**Amounts will be disbursed in AUD.*
<a id="eligibility-criteria"></a>
<h2>Eligibility Criteria</h2>
  <p><strong>Purpose:</strong> Proposals must articulate a clear need for grant support for the design, proof of concept, pilot, scale-up or expansion of an innovative blended finance vehicle. 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 Indo-Pacific.</p>
  <p><strong>Applicant types:</strong> Applications must be from NGOs applying independently or together with consortium partners. NGOs must have a material role in the design and implementation of the financial instrument such as fund manager, investment pipeline origination, technical assistance provider, or any other substantive role. The NGO should have evidence of support from their Board and/or internal management to participate in a blended finance structure prior to being eligible to receive funding.</p> 
  <p><strong>Focus geography:</strong> The applicant can be based in any country (developing or developed market). However, the blended finance vehicle must target one or more countries in the Indo-Pacific region that are eligible to receive Official Development Assistance and are aligned with DFAT’s list of target countries (Eligible Countries), which at the Commencement Date are: Bangladesh, Cambodia, Indonesia, Laos, Mongolia, Myanmar, Nepal, Pacific Islands Nations (Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Nauru, Niue, Papua New Guinea, Republic of Palau, Republic of the Marshall Islands, Samoa, Solomon Islands, Tokelau, Tonga, Tuvalu and Vanuatu), Pakistan, Philippines, Timor-Leste, Vietnam and Sri Lanka.    The proposal will be eligible for funding only if 100%* of the target region consists of one or more of the Eligible Countries. <em>*Convergence may consider regional proposals with up-to 20% of the anticipated portfolio exposure to any other ODA eligible country in the Indo-Pacific region not listed above.</em> </p>

  <p><strong>Focus sectors:</strong>  Blended finance vehicles supported by the program must focus on either or both of the following impact themes - </p>

- </p> <strong> Climate Action </strong> - Addressing climate change mitigation, climate change adaptation or both. Must align with at least one of the following: SDG 7 (Clean Energy), SDG 11 (Sustainable Cities), SDG 12 (Responsible Consumption), SDG 13 (Climate Action), SDG 14 (Life Below Water), SDG 15 (Life on Land).</p>
- __Gender Equality__ - Strong gender equality focus. Must significantly contribute to gender outcomes and focus on integration of gender equality into the design, implementation, and operations of vehicles, rather than as a “bolt-on feature” or “nice-to-have”. Must align with SDG 5 (Gender Equality) and can include vehicles which are targeting the nexus of gender equality and other impact themes like health care, education and financial inclusion.</p><br>

  __[Priority Stream for 1st Call for Proposal]: For this cycle, we are prioritizing stage 2 and stage 3 solutions; however, applicants for stage 1 solutions are also eligible to apply.__<br>

<a id="evaluation-criteria"></a>
<h2>Evaluation Criteria</h2>
  <p><strong>Development Impact:</strong> The financial vehicle is designed to deliver inclusive, measurable and significant environmental and social impact especially for underserved groups like women, indigenous people, and people with disabilities, with clear impact indicators and a focus on underserved geographies like Least Developed Countries (LDCs) and frontier markets (e.g., Pacific Island countries)</p>
  <p><strong>Scalability and Replicability:</strong> The vehicle aims to mobilize commercial and private capital at scale and has the potential to be replicable across similar contexts, serving as a model for other NGOs and contributing to a pipeline of investable solutions.</p>
  <p><strong>Additionality and Demonstration:</strong> Addresses climate finance and gender barriers in a new or more efficient way than existing solutions. Demonstrates a clear need for blended finance and grant and acceleration support from the Accelerator to unlock capital for underserved populations.</p>
  <p><strong>Gender Consideration:</strong> The vehicle incorporates gender-related risks and opportunities, and plans to use frameworks like the 2X Criteria to track gender outcomes.</p>
  <p><strong>Likelihood to achieve financial close and financial sustainability:</strong> The vehicle has a bankable/investable structure, is likely to attract private investors in the short to medium term, and demonstrates a clear pathway to long-term commercial viability with minimal or no need for concessionality. It includes a robust governance model, investment strategy, and risk management framework, and investors have been actively involved in the design of the concept to date.</p>
  <p><strong>Internal buy in:</strong> The NGO has internal leadership support, alignment with its mission, a committed team in place, and the legal capacity to develop or participate in the blended finance vehicle.</p>
  <p><strong>Stakeholder support:</strong> The vehicle has identified key financial and implementation partners with strong support from critical stakeholders in the target region(s)</p>
  <p><strong>Track record:</strong> NGOs must demonstrate relevant experience or a clear plan to access technical and financial expertise, understand local barriers in the target sectors and/or geographies, and have established partnerships to support the development and implementation of their blended finance vehicles.</p><br>
  <p>
    <em>Refer to the
  <a href="//assets.ctfassets.net/4cgqlwde6qy0/7p8n9Cl4opNL4ekDisiLUt/eff86a3cafd9cbc33d6f7dc355a838cd/DFAT_Accelerator_Evaluation_Criteria.pdf">
    <strong>document</strong>
  </a>for further details on the evaluation criteria.</em>
</p>


The Indo-Pacific NGO Blended Finance Accelerator supports non-governmental organizations (NGOs) working on transformative development projects and pioneering new approaches to financing sustainable development in the region. 

The Accelerator will provide a.) catalytic grant funding, and b.) acceleration support to qualifying awardees  to scope, develop, and scale high-impact blended finance vehicles that can unlock private capital to advance economic development, inclusive of climate and gender equality, in the Indo-Pacific region.


*Toronto, 27 October, 2025* — Today, Convergence Blended Finance and the Australian Department of Foreign Affairs and Trade (DFAT) launch the first call for proposals for the [Indo-Pacific NGO Blended Finance Accelerator](https://www.convergence.finance/accelerator/dfatngo). This five-year, AUD 10 million initiative will be managed by Convergence. The Accelerator will support non-governmental organizations (NGOs) to scope, develop, and implement high-impact blended finance solutions to advance climate action and gender equality in the Indo-Pacific region.

The Indo-Pacific region, while having experienced rapid economic growth, now faces mounting development challenges. It accounts for over half of global greenhouse gas emissions and includes six of the ten most climate-affected countries. Women and girls in the region are disproportionately impacted by poverty and climate change, underscoring the need for inclusive, gender-responsive solutions.

The role of NGOs in advancing climate and gender outcomes, especially in the context of blended finance, is becoming increasingly important. Convergence’s Market Data found that around 17% of all blended finance transactions have at least one NGO participating in developing and implementing the transaction. The social, environmental and impact expertise NGOs bring to the table is critical for the success of a blended finance transaction. With boots on the ground, NGOs have a realistic picture of what the target beneficiaries need. NGOs understand how to measure impact effectively, making their role vital from design through to implementation and evaluation of a blended transaction. 

We have seen a growing interest from NGOs to design and participate in blended finance solutions in the Indo-Pacific region. However, their participation remains limited due to lack of resources and support in designing and scaling blended finance transactions.

The Accelerator will help bridge that gap by equipping NGOs with the tools, knowledge, and partnerships they need to strengthen their role in designing, piloting, and scaling blended finance transactions as impact managers, technical assistance providers and, where suitable, fund managers. 

The Accelerator consists of two core components:
- __Catalytic Design Grants__: USD 200,000 to 550,000 to support NGOs from early-stage scoping and proof-of-concept through to the piloting and scale up of their blended finance solutions.
- __Acceleration Support__: NGOs supported by the initiative will also receive tailored capacity building, expert advisory services, peer learning opportunities, and facilitated access to funders and networks to bolster their potential for success in designing and scaling blended finance solutions.

<br>
The Accelerator will help NGOs use blended finance to overcome the structural barriers they face to expand their impact, especially in underserved markets like the Pacific Islands.

“In a time where many nations are increasingly looking inward, we are heartened that the Australian Government is undertaking this ambitious partnership with Convergence to support sustainable development in the Indo-Pacific region,” says Joan Larrea, CEO at Convergence. “This is an all hands-on deck moment and we need the sectoral and place-based knowledge of NGOs to create high-impact, solid investment opportunities.” 

“In the Indo-Pacific region, blended finance increasingly drives capital into business models scaling impact at the grassroots. NGOs are at the tip of the spear, working directly with local communities to address pressing challenges. By equipping NGOs to design and launch blended finance structures, we unlock financial innovations and private sector partnerships to accelerate sustainable development in the region,” Leah Pedersen, Senior Director, Blended Finance Accelerator at Convergence. 

Expressions of interest for the accelerator are now open. To apply, you can follow the instructions on the Indo-Pacific NGO Blended Finance Accelerator website and submit your applications by __November 18, 2025__.

*__Join Convergence and DFAT for an info session on the November 13, 2025, 2pm AEDT / 11am SGT. [Register now.](https://www.convergence.finance/calendar/4Td69Id1h1r31bRZsAFTuq/view)__*

__About Convergence__<br>
Convergence is the global network for blended finance. Convergence’s Blended Finance Accelerator supports blended finance practitioners with design grants, acceleration support, and market intelligence to scope, structure, and launch new blended finance solutions that unlock commercial investment to accelerate sustainable development in emerging markets.

On top of market acceleration, through its Blended Finance Accelerator, Convergence generates blended finance data, intelligence, and deal flow to increase private sector investment in developing countries. Convergence’s global membership includes over 160 public, private, and philanthropic investors as well as sponsors of transactions and funds.

__About DFAT Australia__<br>
The Department of Foreign Affairs and Trade (DFAT) promotes and protects Australia’s international interests to support our security and prosperity.

Australia's [international development policy](https://www.dfat.gov.au/publications/development/australias-international-development-policy) sets the long-term direction for Australia's development program. It guides how Australia works with partners to advance a peaceful, stable, and prosperous future for our region – ensuring DFAT’s international development program is responsive to today's complex and interconnected challenges.


Convergence and the Australian Government Launch Call for Proposals for AUD 10 Million Accelerator to boost NGO participation in Blended Finance across the Indo-Pacific 