In partnership with the UN Joint SDG Fund, UNCDF is helping turn integrated UN action into investable solutions in early-stage and last-mile markets. By combining the Joint SDG Fund’s support for pooled, multi-agency action with UNCDF’s catalytic, risk-absorbing mandate, these initiatives deploy guarantees, loans, grants, and structuring support to build markets, derisk investment and crowd in additional capital across food systems, health, water, renewable energy, digital innovation and the blue economy.
UNCDF initiatives with capital from the Joint SDG Fund
As the UN system’s catalytic, risk-absorbing investment partner, the United Nations Capital Development Fund (UNCDF) derisks investment in early-stage, last-mile markets such as Least Developed Countries, Small Island Developing States and fragile settings. Building on the Compromiso de Sevilla adopted at the Fourth International Conference on Financing for Development (FfD4), which formally recognized UNCDF’s catalytic derisking role, UNCDF crowds in private investment where traditional finance cannot reach: stretching ODA resources, building markets, and enabling system-wide interoperability across the UN development system.
Burkina Faso: Portfolio guarantees unlock credit for smallholder farmers
Through the Joint SDG Fund, UNCDF is deploying a portfolio guarantee to catalyse food systems transformation in Burkina Faso, with the goal of expanding access to affordable credit for smallholder farmers and agribusinesses. The instrument is designed to generate twice the value of new loans within the targeted value chain and up to four times leverage once the revolving fund becomes operational. Addressing long-standing financing constraints and food insecurity, the programme aims to improve food security for 2.5 million people, stimulate rural employment, and strengthen peace and stability in marginalized areas.
Cambodia: Blended finance expands climate-resilient water and renewable energy services
In Cambodia, the Ministry of Industry, Science, Technology & Innovation, in partnership with the United Nations in Cambodia, UNICEF and UNCDF, is implementing the WISE Joint Programme with support from the Joint SDG Fund. Through a revolving blended-finance facility, the programme lowers financing costs for private water operators and supports renewable-energy-powered water systems, helping improve climate-resilient water services for more than 200,000 people.
Cambodia: Policy reform and finance drive energy efficiency in buildings
In collaboration with UNDP and with capital from the Joint SDG Fund, UNCDF is advancing energy efficiency in Cambodia’s building sector through policy reform, capacity development, and sustainable investment strategies. With an allocation of $250,000, the programme addresses behavioral, market, and regulatory barriers while supporting financial institutions to design green lending instruments and risk-management tools. By strengthening the investment ecosystem for efficient buildings, the initiative helps reduce emissions, attract private capital, and create a pipeline for scalable green construction projects.
Cameroon: Expanding access to finance for agricultural value chains
Launched in 2026, CONVERGEFOOD is a Joint Programme that strengthens agricultural value chains, expands access to finance, and connects smallholder farmers and agri-enterprises to reliable and inclusive markets, particularly in underserved and last-mile areas. The programme focuses on four priority value chains—rice, cassava, milk and eggs—across three regions to improve food security, nutrition, climate resilience and economic inclusion, with a particular focus on women and youth. Through a whole-of-government approach, it also strengthens the capacities of cooperatives and SMEs while fostering market development. As the lead agency for the programme's access-to-finance component, UNCDF is establishing a blended finance mechanism combining a Guarantee Fund and a Disbursement Fund to increase financing for cooperatives and MSMEs operating across the four priority value chains.
Ethiopia: Strengthening Ethiopia's poultry value chain through blended finance
With USD 3.2 million support from the UN Joint SDG Fund, UNCDF, UNIDO and FAO are implementing the three-year Unlocking Poultry by Leveraging Investments for Transformation (UPLIFT) project (September 2025 to August 2028) to strengthen Ethiopia's poultry value chain through increased investment, sustainable food systems and job creation. Through the project, UNCDF deploys loans and guarantees to improve access to finance for businesses operating across the poultry value chain, enabling them to invest, expand production and improve productivity. The project targets to support 10,000 poultry farmers, 15 feed processors, and 100 aggregators, strengthening market systems, increasing economic resilience, and creating sustainable employment opportunities.
Fiji: Blue economy guarantee expands lending for reef-friendly enterprises
In partnership with UNDP, UNEP, and the Global Fund for Coral Reefs (GFCR), and with capital from the Joint SDG Fund, UNCDF is supporting the development of the Fiji Development Bank’s Blue Lending Facility through a $770,000 portfolio loan guarantee. This derisking instrument expands access to credit for businesses that protect coral reefs and coastal ecosystems while creating employment and livelihood opportunities for local communities. By blending public and private finance, the initiative strengthens the blue economy and demonstrates how concessional capital can align nature-positive enterprises with inclusive economic growth.
Ghana: Leveraging digital ecosystems for increased MSMEs' productivity
Since 2024, this programme enhances productivity for youth and women-led MSMEs in Ghana by fostering an inclusive digital ecosystem. It empowers 25,000 MSMEs through improved access to digital skills, financial services, and market opportunities, while strengthening government capabilities in e-commerce and digital innovation. Through UNCDF's catalytic capital, the programme helps de-risk lending and mobilize private investment. Implemented in partnership with UNDP and UNCTAD, it also works closely with government and private sector stakeholders to strengthen enabling policies and digital infrastructure. Ultimately, the initiative contributes to Ghana's digital transformation and advances the Sustainable Development Goals (SDGs).
Ghana: Pipeline development for future food systems facility
In Ghana, the Joint SDG Fund, UNCDF, and partners are in the design phase of a facility to catalyse the transition to sustainable, resilient, and equitable food systems through a nature-positive soybean value chain. The programme will identify market gaps, prepare a pipeline of investable agribusiness opportunities, and structure derisking mechanisms, such as portfolio guarantees, to unlock credit for smallholders and cooperatives. Once launched, the facility is expected to mobilize over $10 million in blended investment, advancing food security, rural livelihoods, and systemic change in Ghana’s agricultural finance ecosystem.
Jordan: Unlocking private investment to transform the olive value chain
With support from the Joint SDG Fund, UNCDF, UNDP and UN-Habitat, with advisory support from FAO, are implementing the Unlocking the Olive Economy: A Pathway to Sustainable Food Systems in Jordan joint programme. Working alongside the Government of Jordan, the programme aims to transform the olive and olive oil value chain into an inclusive, climate-resilient and investment-ready sector by strengthening food systems governance, improving access to finance and supporting sustainable sector growth. Through an innovative Hybrid Portfolio Partial Credit Guarantee Scheme (HPPCGS), the programme aims to unlock US$10–15 million in private investment by reducing lending risks for local financial institutions. It will also expand access to affordable financing for at least 35 SMEs operating across the olive value chain and benefit up to 80,000 value chain actors, including women, youth and smallholder farmers.
Kenya: Digital innovation drives inclusive growth and youth employment
Under the DigiKen Joint SDG Fund project, led by UNESCO in partnership with UNDP, UNEP, UN Women, and UNCDF, a total of $4.26 million in funding is fostering a dynamic digital innovation ecosystem across Kenya. The programme empowers over two million people, particularly women, youth, and marginalized groups, through digital skills, media literacy, and entrepreneurship. It has already created 4,500 direct jobs, trained 20,000 public officials, and strengthened 15 digital innovation hubs nationwide. By leveraging partnerships with government and private sector actors, DigiKen is enabling communities to participate in the digital economy, driving climate resilience and inclusive growth.
Madagascar: Ecosystem approach to renewable energy unlocks sustainable growth
Launched in 2022, this Joint SDG Fund-financed programme takes an ecosystem approach to accelerate renewable-energy investment and expand access to affordable electricity. By 2030, it aims for 5 per cent of Madagascar’s energy mix to come from renewables, reaching 80,000 people and building national solar capacity. With a total budget of $4 million, the initiative demonstrates how catalytic funding and multi-partner collaboration can lay the groundwork for private-sector investment in green infrastructure. Alongside UNCDF, this initiative counts with the support of UNDP, UNIDO, UNCDF, Ministry of Energy and Hydrocarbons, ANKA Madagascar, GEF Africa Minigrid Project (AMP), GIZ – PERER Project, and Rural Electrification Agency (ADER).
Malawi: Blended concessional finance catalyses private investment in agribusiness
With support from the Joint SDG Fund, UNCDF and UNDP are expanding access to finance for agribusiness SMEs through a blended finance facility that complements the Government of Malawi’s efforts to promote private-sector-led growth and productive investment. Ziweto Enterprises, a Malawian agribusiness, received a $400,000 concessional loan that catalysed a 30% increase in turnover, created new jobs, 95 per cent for youth, and enabled new sustainable ventures in feed production and poultry hatchery. In December 2024, Ziweto became the first Malawian company to list on the Stock Exchange of Mauritius, raising $600,000 to scale operations and strengthen domestic value chains. The investment demonstrates how blended concessional finance can unlock private capital, build markets, and generate lasting rural impact.
Maldives: Catalyic financing accelerates the energy transition
The Joint SDG Fund, UNCDF, and UNDP, in partnership with the Government of Maldives, the Energy Fund, and the UK Foreign, Commonwealth and Development Office (FCDO), are accelerating the country’s transition to renewable energy. The programme combines a $250,000 Joint SDG Fund seed grant, $800,000 from the Energy Fund for a UNCDF guarantee, and an additional $500,000 FCDO contribution under negotiation. Together, these resources support the design of market-based SDG financing instruments, build institutional capacity for energy governance and resource mobilization, and create the enabling conditions for large-scale blended finance to drive the Maldives’ energy transition.
Mali: Accelerating Mali's food systems and energy transition
Launched in 2026, the Mali's Food Systems and Energy Transition Acceleration Programme, funded by the Joint SDG Fund and implemented in partnership with UNDP, supports the Government of Mali in expanding access to sustainable energy while advancing the country's energy transition. Through catalytic finance and investment structuring expertise, UNCDF helps unlock investment in decentralized, climate-resilient energy solutions by supporting investment readiness, feasibility studies, stakeholder engagement and the design of blended finance solutions for the proposed Mali Food Systems and Energy Transformation Investment Facility (MFSET-IF), creating the conditions to mobilize public and private investment at scale.
Papua New Guinea: Blue economy enterprises advance marine livelihoods
The Good Oceans, Good Business Joint Programme, implemented by UNDP and UNCDF in partnership with the Government of Papua New Guinea, promotes sustainable marine livelihoods and biodiversity conservation in Papua New Guinea. Through the Blue Economy Enterprise Incubation Facility (BE-EIF), UNCDF is deploying a US$1 million guarantee facility to catalyse private sector investment in reef-positive and blue economy enterprises that balance environmental conservation with commercial viability.
The UNCDF programme component concludes in December 2029. It focuses on enhancing women's participation in marine value chains, co-developing gender-responsive financial products with local financial institutions, expanding access to finance for coastal communities that depend on ocean resources, and strengthening the investment readiness of blue economy enterprises to attract sustainable financing.
Rwanda: Guarantees expand access to rural health finance
In Rwanda, UNCDF, in partnership with UNDP, UNFPA, and UNICEF, is expanding access to finance for rural and underserved health posts through a top-up guarantee with I&M Bank Rwanda, supported by the Joint SDG Fund and under the leadership of the UN Resident Coordinator’s Office. The guarantee unlocks working-capital loans for local health-post operators, strengthening primary healthcare systems and contributing to the Government’s goal of universal health coverage.
Rwanda: Green finance and partnerships accelerate food systems transformation
In Rwanda, the Government of Rwanda, in partnership with FAO, UNICEF, UNDP, WFP and UNCDF, is advancing the Rwanda Green Food Future Joint Programme, supported by the Joint SDG Fund and the UN Food Systems Coordination Hub. The programme expands access to finance, promotes affordable green technologies, and strengthens investment readiness for agriMSMEs and cooperatives in horticulture, poultry, dairy, apiculture and livestock value chains, helping drive climate-resilient food systems across six food-insecure districts.
Tanzania: Integrated innovations for sustainable development
Funded by the Royal Norwegian Embassy through the Tanzania SDG Acceleration Fund, the Zanzibar Joint Programme is advancing climate-resilient livelihoods, climate adaptation, and protection for women and children. The programme supports farmers, women and youth with climate-smart agriculture, aquaculture, enterprise development, market access, clean energy, water resilience, mangrove conservation and disaster preparedness, while strengthening community systems to prevent and respond to violence against women and children.
With a UNCDF allocation of USD 435,000, the programme provides catalytic financing to strengthen cooperatives and invest in community-owned seaweed post-harvest and value-addition infrastructure, complemented by technical assistance, entrepreneurship support, financial inclusion, and climate resilience interventions. UNCDF is also supporting the transition to clean cooking solutions through awareness-raising, media engagement, and support to public institutions, helping expand access to sustainable energy while reducing environmental and health risks.
Zimbabwe: Blended finance establishes the country’s first renewable energy fund
Through the Joint SDG Fund, UNCDF, together with UNDP, UNESCO, UN Women, and Old Mutual Zimbabwe, is catalysing the country’s distributed renewable energy market through early-stage investment, enterprise incubation, and market system development. An initial $8 million from the Joint SDG Fund was deployed through UNCDF’s blended finance instruments, matched by an additional $8 million from Old Mutual, one of Africa’s largest financial services groups. The resulting Renewable Energy Fund (REF), Zimbabwe’s first, aims to establish a functioning market for decentralized clean energy solutions in underserved areas. Leverage is expected to exceed 3.5× by the end of 2025, with REF projected to grow to $50 million by 2026, positioning Zimbabwe as a model for sustainable, private-sector-driven renewable energy finance in the region.
