In March 2025, Convergence published a data brief on [Blended Finance in Fragile and Conflict-affected Situations (FCS)](https://www.convergence.finance/resource/blended-finance-in-fragile-and-conflict-affected-situations/view). The brief analyzes 54 blended finance transactions from Convergence Market Data, alongside interviews with industry stakeholders, to examine key market trends and highlight the challenges and opportunities associated with deploying blended finance in countries classified as FCS. 

This enhanced data brief builds on those findings and was developed in collaboration with the Humanitarian Innovative Finance Hub. It aims to support the humanitarian finance community by identifying a set of blended finance structures and solutions that can be standardized and scaled to mobilize additional investment in support of humanitarian outcomes in FCS. The targeted sources of additional investment include development finance institutions (DFIs), multilateral development banks, and domestic and international financial and real economy actors. For humanitarian actors and donors, the report emphasizes the additionality of blended finance not only in terms of mobilized capital, but critically, in terms of impact.

This brief is designed for a range of stakeholders including humanitarian agencies, donors, DFIs, and investment partners. It incorporates data analysis from Convergence Market Data, a survey of existing publications and reports on humanitarian blended finance and innovative finance, and consultations with sector experts.

DB Humanitarian V3

Humanitarian Blended Finance: Exploring Models to Scale, Convergence