BLENDED FINANCE TRAINING 2019
The Sustainable Development Goals (SDGs) targets a range of development challenges, from combating climate change to ending poverty and hunger. To achieve the SDGs in developing countries, a significant scale-up of investment is required. One of the ways to realize this is through a Blended finance, the use of catalytic capital from public and philanthropic sources to mobilize additional private sector investment in developing countries. For Blended finance to make a material difference towards the Sustainable Development Goals, diverse stakeholders such as Development Finance Institutions (DFIs) commercial investors, development agencies, impact investors and philanthropic foundations must develop a strong understanding of both the theory and practice behind this collaborative approach. On 13th December, 2019 Convergence Blending Global Finance organized for a Blended Finance Training at Sankara Hotel, Nairobi County. The Training aimed at providing participants with an intermediate understanding of blended finance. While officially opening the training, the Agricultural Finance Corporation Managing Director Mr. Lucas Meso who is also the Association of African Development Finance Institutions (AADFI) Regional Representative for East Africa noted that Available figure indicates that ‘the bulk of the SDGs investment needs estimated at US$5-7 trillion annually is in emerging markets and developing economies (EMDEs)’, an indication that there is huge funding requirement to finance these SDGs investments. “With the dwindling public sector funding, the challenge is now for DFIs to look for innovative means of mobilizing resources for sustainable development projects. This is where this training on Blended Finance is of great relevance as it presents solution on how to crowd in financial resources for development projects in our countries”, Mr. Meso added. On her part, Ms. Lade Araba, Managing Director, Convergence Blended Finance-Africa said that Convergence Blended Finance-Africa has unique insights on each stakeholder and the various factors that unlock their participation. “In designing this training program, we have leveraged our experience, data, and network to create a practical and actionable blended finance training curriculum. At Convergence we believe that blended finance can disrupt traditional development finance as we know it, by attracting private sector funds to developing countries in volumes never before seen. The money’s there, $2.5 trillion represents less than 1% of global finance markets”, she said. The Corporation was represented by Head of Loan recoveries Anastasia Wachira, Cornelius G. Onsongo, Francis Oweggi, Sara Mburia, Julie Awuor, Amanda Namayi, Daniel Alela and Nicole Okoth. Convergence is the global network for blended finance. We generate blended finance data, intelligence, and deal flow to increase private sector investment in developing countries.