State of Blended Finance 2025

This report investigates blended finance trends across the overall market in 2024, including investor and deal trends.

It is divided into four parts:

• Part I: Market Overview
• Part II: Deal Trends
• Part III: Investor Trends
• Part IV: Taking Stock of Efforts to Scale:

1. Lack of a Private Sector Mobilization Strategy and Action Plan
2. Local Investment in Blended Finance is Underrepresented
3. Lack of Transparency on Blended Finance Activity
4. The Ecosystem for Blended Finance Remains Underdeveloped