Nairobi, Kenya—Today, Convergence and Intellecap announced their partnership at the Sankalp Africa Summit.
The partners signed a memorandum of understanding (MoU) to support scaling of blended finance in Asia and Africa as a tool to advance financing for the Sustainable Development Goals (SDGs).
Under the framework of the MoU, the partners will collaborate on programs and activities that:
- Facilitate the mobilization of concessional capital and ecosystem building,
- Build capacity and knowledge of key stakeholders including governments, philanthropic funders, corporates and other partners,
- Foster an enabling environment for blended finance.
Intellecap is an impact advisory and a pioneer in developing multi-year multi-stakeholder programs to mobilize collective action and solve global challenges by bringing together knowledge, networks, capital and technology. Part of the Aavishkaar Group, Intellecap’s work aims to promote the adoption of blended finance solutions to drive economic growth and development, with a focus on marginalized and underserved communities in the Global South.
“Intellecap’s mission and vision closely align with our own,” says Convergence CEO, Joan Larrea. “This partnership is a unique opportunity to cultivate deeper blended finance knowledge and strengthen the growing blended finance ecosystem in Asia and Africa.”
“Without private capital, achieving our climate and development goals is impossible, said Intellecap Managing Director, Santosh Singh. “We can unlock private capital by convening public, philanthropic and development finance through catalytic structures such as blended finance instruments. With this partnership with Convergence we are bringing our combined strength of designing capital structures, comprehensive understanding of key sectors and our ability to convene key stakeholders.”
