Convergence has launched the fifth cycle of the Asia Climate Solutions (ACS) Design Grant, supported by the Australian Government through the Department of Foreign Affairs and Trade (DFAT).
The new cycle will support the design and development of blended finance vehicles that mobilize public, philanthropic, and private capital to strengthen climate-resilient agriculture, food security, sustainable livelihoods, and nature-based solutions (NbS) across Southeast Asia.
Supported vehicles could include financing solutions that improve food production, strengthen value chains, expand financing for farmers and small and medium-sized enterprises in agriculture, enhance agricultural insurance and climate risk management, and accelerate the adoption of agri-tech, biotechnology, and other smart farming solutions and NbS. The cycle will also promote women's economic empowerment through greater access to finance and markets.
Agriculture is central to economic growth, employment, and food security across the Indo-Pacific. ASEAN alone is home to more than 100 million hectares of agricultural land, with agriculture accounting for around 10% of regional GDP and approximately one-third of total employment across ASEAN states. Yet increasing climate risks, environmental degradation, and persistent financing gaps continue to constrain investment in climate-resilient agriculture and sustainable agriculture. Women farmers are particularly affected, often facing disproportionate barriers to finance, markets, and productive resources, limiting their resilience and economic opportunities.
Southeast Asia stands as one of the world's most critical deforestation hotspots, accounting for approximately 28% of global tropical forest loss. The region holds roughly 30% of the world's NbS potential, making it one of the most important regions globally for nature-based climate mitigation and adaptation.
ACS is one of Convergence's regional blended finance accelerators supporting practitioners through design grants and acceleration support to develop investment-ready blended finance vehicles that target climate and sustainable development across Asia.
Since its launch, ACS has awarded over $2 million in design grants. This has supported the development of six blended finance vehicles addressing NbS, sustainable agriculture, fisheries and aquaculture, clean energy, and climate resilience across the Indo-Pacific. Collectively, these vehicles are expected to mobilize more than $760 million in catalytic and commercial capital. ACS grantee Mekong Capital recently secured a $50 million investment approval from the Green Climate Fund.
Applications for ACS Cycle 5 are now open. Eligible organizations developing blended finance solutions that strengthen climate-resilient agriculture, food security, and NbS across Southeast Asia are encouraged to apply.
Join Convergence and DFAT for an info session on September 10 at 10:00AM SGT (GMT+8). Register here.
ACS is a multi-donor funded programme with anchor support from Australia's Department of Foreign Affairs and Trade (DFAT), Olayan Group, UBS Optimus Foundation, The Rockefeller Foundation, and the Monetary Authority of Singapore (MAS).
As the initiative continues to demonstrate strong market demand and impact, Convergence is seeking additional funding partners to support its next phase and expand its reach. Organizations interested in supporting the next phase are encouraged to connect with David Schwartz, Head of Strategic Partnerships at Convergence: [email protected].
About Convergence and the Blended Finance Accelerator
Convergence is the global network for blended finance. Convergence’s Blended Finance Accelerator (BFA) 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 the BFA, Convergence mobilizes private sector investment in emerging markets and developing economies by producing actionable data and guidance and convening key stakeholders. Convergence’s global membership includes ~200 public, private, and philanthropic investors as well as sponsors of transactions and funds.
