MUFG EMEA, the United Nations Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) today sign a Statement of Intent (SoI) to support climate adaptation and mitigation projects in emerging markets.

This collaboration will leverage UNCDF's expertise in catalytic financing (strategic use of public finance to mobilise additional private finance), and MUFG's expertise in sustainable finance. This SoI aims to increase access to concessional and blended finance, with a strong focus on climate adaptation projects, especially in Least Developed Countries, Small Island Developing States and fragile countries.

To enable this, UNCDF will deploy de-risking capital, support project pipeline development and conduct due diligence at a local country level while MUFG EMEA will leverage their blended finance expertise and broad investor base to unlock larger streams of investment. The SoI aims to promote sustainable development and progress towards the Sustainable Development Goals.

Pradeep Kurukulasuriya, Executive Secretary of UN Capital Development Fund, said:

"Blended finance is essential to crowd in private capital for climate action and green jobs, particularly where public resources alone fall short. With our unique capital mandate, UNCDF de-risks investments to unlock both public and private finance—amplifying the development impact of partners like UNDP and MUFG. Together, we are accelerating climate adaptation and mitigation in underserved economies and advancing sustainable economic growth.”

Christopher Marks, Head of Growth Markets, Innovative Finance and Portfolio Solutions at MUFG EMEA, added

“Climate finance remains heavily concentrated in developed countries, while emerging and frontier economies—despite being the most vulnerable to climate change—receive disproportionately low support. Collaborating through this SoI we hope to be able to deploy finances at a local level and, leveraging MUFG’s expertise in blended finance, bring together the public and private backing required to advance climate adaptation and mitigation projects where they are needed most.”

Francine Pickup, Deputy Director of UNDP’s Bureau for Policy and Programme Support, concluded:

“Climate finance is central to achieving inclusive, sustainable development. Many developing countries have made bold climate commitments, yet continue to face systemic barriers in accessing the financing needed to deliver on them. This new partnership strengthens our ability to channel investment where it's needed most, especially in Least Developed Countries, Small Island Developing States, and fragile contexts. Together, we’re turning climate ambition into action.”

About MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit World-leading bank with financial strength and a global network | MUFG BANK, LTD..

MUFG EMEA.’s ESG disclaimers can be found here: Sustainability disclaimers | MUFG BANK, LTD.

About UNCDF

UN Capital Development Fund (UNCDF) mobilizes and catalyses an increase in capital flows for impactful investments in high-risk markets, especially in Least Developed Countries, Small Island Developing States and fragile settings. By crowding in capital through the deployment of risk-absorbing financial instruments, mechanisms and structuring advisory, UNCDF contributes to job creation, sustained economic growth and equitable prosperity. In partnership with UN entities and development partners, UNCDF operates with speed and agility to deliver scalable, blended finance solutions to drive systemic change and pave way for commercial finance and development finance institutions.

Learn more at uncdf.org or follow @UNCDF.

About UNDP

UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet.

Learn more at undp.org or follow at @UNDP.