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. 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.
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.
About Convergence
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
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 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.
