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Chemonics International, under the USAID Climate Finance for Development Accelerator (CFDA), seeks concept proposals from private sector fund managers or other capital deployers for blended finance structures that deploy catalytic funding into a portfolio of emerging market-based companies and/or real assets that advance the energy transition in this decade in response to the Blended Finance for the Energy Transition (BFET) program.

USAID and the Department of State, in collaboration with the Office of the U.S. Special Presidential Envoy for Climate (SPEC), launched the Blended Finance for the Energy Transition (BFET) program. With catalytic co-funding from the U.S. government and other partners, the goal of BFET is to mobilize $1 billion or more of capital to accelerate emerging markets’ energy transition efforts and limit global average temperature rise to 1.5°C. While private capital is increasingly directed at the energy transition in emerging markets, it is not yet at the speed and scale needed to address the global climate crisis. In response, BFET is seeking to unlock new and deep pockets of institutional capital that have typically been too risk averse to deploy capital into the energy transition in target investment countries (India, Indonesia, South Africa, and Vietnam) and other emerging markets, with the intention of accelerating the deployment of equitable, affordable, and reliable clean energy.

BFET has released a competitive two-stage application process with the first stage being a Request for Concept Proposals (RFCP). Based on the quality of concept proposals, select applicants will be invited to submit a full proposal for a potential grant or subcontract.

Concept proposals will be accepted through May 24, 2023 at 11:59pm Eastern Daylight Time.

In order to receive the full RFCP, interested investment partners should fill out a brief partnership intake form to join the Climate Finance Investment Network (CFIN) Managed by CFDA, the CFIN brings together climate finance stakeholders across a diverse set of sectors and emerging and frontier markets to partner with USAID. There is no cost to join the network. The objective of the network is to crowd in private sector climate financing through learning, partnership facilitation, and catalytic grants.