Toronto, October 29, 2025 – Today, the Catalytic Climate Finance Facility (CC Facility) announced it has awarded USD 870,000 to its new cohort of grantees. The selected projects include the Southeast Asia Blue Innovation Facility (SEA-Fund), the Regenerative Capital Fund (ReCa), and the FTB Green Credit Facility.
The CC Facility, a partnership between Climate Policy Initiative and Convergence, provides working capital grants of up to USD 500,000 to help scale early-stage financial solutions that mobilize private capital for climate action in developing economies.
The Facility and its team of experts also provide up to 18 months of tailored technical assistance to address barriers and maximize opportunities to increase the investment pipeline.
The three vehicles were selected following a rigorous review process from a pool of more than 500 submissions worldwide. Each vehicle addresses investment barriers in Southeast Asia and Sub-Saharan Africa, supporting projects in maritime decarbonization, climate-resilient agriculture, and the clean energy transition.
“These three vehicles stood out for their rigor, creativity, and strong potential to mobilize private capital for climate impact,” said Joan Larrea, CEO at Convergence. “In an era of diminishing foreign aid, blended finance initiatives like the CC Facility are proving indispensable, by fast-tracking climate solutions that not only deliver impact but also attract the capital needed to sustain it.”
With support from three anchor donors – The Gates Foundation, Global Affairs Canada, and Australia’s Department of Foreign Affairs and Trade – the CC Facility targets a main obstacle to scaling blended climate finance: the challenging acceleration stage, when promising financial vehicles try to attract investment across diverse markets.
SELECTED VEHICLES:
The Southeast Asia Blue Innovation Facility (SEA-Fund) will be structured as a USD 450 million sustainability bond or asset-backed security to finance infrastructure projects with a focus on maritime decarbonization, alongside a USD 50 million venture capital fund dedicated to early-stage ocean and climate-tech startups.
The Regenerative Capital Fund (ReCa) is a USD 400 million blended equity vehicle that mobilizes institutional investment to scale regenerative agriculture and nature-based solutions across Sub-Saharan Africa through long-term, climate-aligned, and inclusive agrifood investments.
FTB Green Credit Facility is a USD 160 million program offering affordable, long-term loans and guarantees to help Cambodian banks and businesses invest in green projects.
QUOTES
“We applied to the CC Facility to accelerate the structuring and launch of the SEA Fund—a blended finance vehicle addressing the maritime decarbonization and climate adaptation gap in Southeast Asia—by leveraging the Facility’s catalytic capital and technical support. We aim to gain catalytic validation, structuring expertise to mobilize concessional and institutional investors, shorten time-to-market, and unlock the first wave of investable projects across the region,” said Vicky Lay, Partner & Head of Impact of Artesian.
“We applied to the CC Facility to strengthen the ReCa Fund’s impact frameworks, enhance our investor readiness, and build confidence in a scalable blended finance model for regenerative agriculture and climate adaptation across Africa. We hope to gain targeted technical assistance to refine our impact and gender KPIs, and catalytic grant support to accelerate due diligence, capital raising, and the successful launch of the ReCa Platform,” said Duncan Vink, Joint Managing Director of Signature Agri Investments.
“Our participation in the CC Facility marks a strategic commitment to pioneering the future of green finance in Cambodia. We are honored to collaborate in developing robust financial products and governance frameworks designed to mobilize private capital at scale. Through this Facility’s unique combination of grant funding, expert technical assistance, and a collaborative network, we will launch investable blended-finance models that directly address both climate mitigation and adaptation and improve critical services for Cambodia,” said Dith Sochal, CEO of Foreign Trade Bank of Cambodia.
ABOUT THE CATALYTIC CLIMATE FINANCE FACILITY
The Catalytic Climate Finance Facility (CC Facility) is a solution to scale climate finance by filling a market gap in mobilizing private capital. The CC Facility provides a range of services to market-ready blended finance vehicles in developing economies to help them expand their reach. Through grant funding, technical support, and a learning hub, the CC Facility accelerates the implementation of high-impact financial structures while providing resources to the broader ecosystem on how to best catalyze climate finance. The initiative is a partnership between Climate Policy Initiative (CPI) and Convergence.
MEDIA CONTACTS
Sijia Yi
Head of Communications
Convergence Blended Finance
sijia.yi@convergence.finance
Annie Woscoboinik
Communications Associate
Climate Policy Initiative
annie.woscoboinik@cpiglobal.org