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The Global Environment Facility has issued a call for proposals under its Non-Grant Instrument Program which provides blended finance for selected initiatives that catalyze investments from private investors and capital markets.
While most of the GEF’s financing support is provided as grants, it also deploys a wide array of blended finance instruments such as debt, equity, and guarantees to attract private sector investment and deliver global environment benefits beyond business as usual.
The eighth replenishment of the GEF Trust Fund, covering activity in the 2022-2026 period, includes a blended finance global program with a funding envelope of $195 million. At the most recent GEF Council meeting in February 2024, member countries approved blended finance projects related to biodiversity, climate change, land restoration, and chemicals and waste, and with a focus on innovative capital market solutions, debt for nature conversions, and small- and medium-sized enterprises.
Details of the latest call for proposals and its eligibility requirements are available here.