John Kerry proposes $50mn “first loss” tranche for climate initiatives in poor countries.
Appears similar to the 114M€ #BlendedFinance #FinlandIFCclimateFund that 🇫🇮 @Ulkoministerio established in 2017, which in turn was inspired by the 2015 🇨🇦 Canada-IFC fund.

https://www.ft.com/content/f8cb11b3-51e2-4cdb-9c92-f245cd814ec1

https://um.fi/finland-ifc-blended-finance-for-climate-program
https://www.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/bf/focus-areas/bf-climate/bcfp

Unfortunately #EEP_Africa financing is limited to €1 million and there remains a 'valley of death' for companies to progress to MDB financing which typically starts at €50million, or commercial banks.

The blended finance #FinlandIFCclimateFund attempts to de-risk smaller RE projects in developing countries with a first-loss share of a few million.
https://um.fi/finland-ifc-blended-finance-for-climate-program

A few projects already completed, like #Kael & #Kahone utility scale solar plants in #Senegal https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=16849