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31 Jan 24

Convergence and Latimpacto sign MoU to accelerate blended finance in LAC

Convergence and Latimpacto have signed a memorandum of understanding (MOU) to affirm their partnership to help mobilize capital at scale towards impact in Latin America and the Caribbean (LAC).

The new partnership will enable intelligence and skill sharing to advance the adoption of blended finance for sustainable development. The collaboration also aims to generate blended finance data focused on the LAC region and foster joint advocacy and stronger connections with key actors from the public, private, and philanthropic sector to promote innovative financing solutions for the Sustainable Development Goals (SDGs) throughout the region.

Latimpacto, the Latin American Venture Philanthropy Network, brings together nearly 200 impact-driven investors in the LAC region, supporting innovative knowledge, partnerships and collaborations and enabling the strategic deployment of capital in the region. They offer tools and training on how to finance social and environmental initiatives, why to invest in them, and how to measure their impact. Latimpacto belongs to a family of regional networks in Europe (Impact Europe, EVP), Asia (AVPN), and Africa (AVPA) comprising more than 1,100 members worldwide.

“Latimpacto is an important ecosystem builder,” says Joan Larrea, Convergence CEO. “This partnership is key to growing the blended finance ecosystem and moving critical actors from knowledge to action.”

Carolina Suarez Visbal, CEO of Latimpacto, remarked, "Latimpacto promotes a better deployment of capital toward impact along the continuum of capital, and blended finance is a key strategy to ensure synergy between different funding sources. Convergence is a global leader in disseminating this practice, making our partnership natural. We are sure that working together, both organizations will promote a better understanding and investments that will ensure a more impactful mobilization of capital."

“The LAC region is full of innovative opportunities,” adds Senior Advisor, Latin America and Caribbean, Heiner Skaliks, “this collaboration has great potential, utilizing Latimpacto’s local expertise and deep knowledge to activate the regional blended finance market.”