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Announcement
30 Jul 20

Convergence supports the UN Joint SDG Fund to Catalyze SDG Financing

Convergence supports the UN Joint SDG Fund to Catalyze SDG Financing

Convergence was recently selected to support the UN Joint SDG Fund as an independent evaluator and advisor to advance over 150 proposed SDG Financing interventions put forth by representatives from over 100 UN Country Teams, in conjunction with relevant UN agencies.

Over the last few months, Convergence has worked with the UN Joint SDG Fund in operationalizing the Call on SDG Financing Component 2: Catalyzing Strategic Investments to identify the highest potential proposals for investment. Through this initiative, the Joint SDG Fund will provide funding to support the development of solutions that facilitate public and private investments towards the 2030 SDG Agenda and its 17 goals.

The partnership with the Joint SDG Fund in catalyzing SDG financing forms part of Convergence’s broader market acceleration strategy. Convergence has identified that there is currently an insufficient amount of support available for teams developing, and taking to market, investment products aligned to the SDGs. We see our role in helping the Joint SDG Fund select and fund investible solutions led by UN Country Teams as one way to accelerate additional capital from the public and private sector into sustainable finance. Convergence’s Design Funding Program offers another unique market acceleration opportunity for practitioners to secure feasibility study and proof of concept stage design funding to develop and launch catalytic blended finance vehicles that aim to attract private capital to sustainable development at scale.

As the global network for blended finance, we are happy to provide our expertise and knowledge to the Joint SDG Fund, and look forward to sharing more details as this partnership progresses. The Joint SDG Fund will soon announce the results of the selection of shortlisted proposals for Component 2: Catalyzing Strategic Investments. In the meantime, learn more about the UN’s Joint SDG Fund’s recently announced USD 60 million grant for Component 1: Reinforcing the SDG Financing Architecture.

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