Catalytic Climate Finance Facility Opens Call for Applications of Market-Ready Blended ...

credit: Flickr

The Bill and Melinda Gates Foundation and other major donors are putting their money where their mouth is in an effort to help the world's poorest countries meet climate change goals.

The Climate Finance Facility, a joint initiative from the Gates Foundation, Canada's Department of Foreign Affairs, Australia's Department of Foreign Affairs and Trade, and the Climate Policy Initiative, is offering up to $5 million in grants to help create "market-ready blended climate finance structures" in developing countries, the Guardian reports.

The goal is to get $100 million in such financing by 2024, though the first round of funding ended in December with just over $13 million raised.

The second round is scheduled to open in September with a call for proposals until April 24, 2024, the New York Times reports.

The application window is April 3 to April 24, 2024, with a second round of funding set to open in September.

"As the CC Facility embarks on its second cycle, we are confident that our unique blend of grants and acceleration support services can catalyze the development of the next generation of climate finance vehicles," the managing director of the Climate Policy Initiative says in a statement.

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