Innovations in blending capital for climate: Fiji and Uruguay

Max Riva May 14, 2021

The Joint SDG Fund announced in March a US$41 million grant to catalyze financing for the Sustainable Development Goals (SDGs) in Fiji, Indonesia, Malawi and Uruguay. All blend public and private capital in unique ways. In Fiji sustainable business will protect marine ecosystems while empowering local communities. Indonesia will create a new generation of financial products to transition the country towards low impact energy production and the empowerment of impact-driven businesses. Malawi will reduce poverty, hunger, and inequality by creating jobs and small businesses in the country’s severely undercapitalized agricultural sector. Uruguay will combat climate change by transitioning the transportation and industry sectors to green energy and technologies. Combined, they are estimated to leverage US$4.7 billion. The portfolio takes an integrated approach towards climate change and social inclusion, offering the market new asset classes. Selected out of a pool of 155 proposals, the sponsors from Fiji and Uruguay will share their journey and engage with SDG financing leaders about replication and ambition. The participants will then open the floor to engage with the SOCAP wider community.