This working paper aims to bridge the gap between high-level frameworks and practical implementation. It draws on nine anonymized case studies from sub-Saharan Africa covering renewable energy, financial institutions, and agricultural value chains.
Rather than assessing project impacts, the paper examines how and why blended finance was used, the structure of each investment, and the extent to which these applications aligned with key principles such as financial additionality, minimum concessionality, commercial sustainability, and market reinforcement.
