n NGO and market-facing intermediary Calvert Impact is creating a US$100 million Asian Reliance Infrastructure Fund. 60 This would sit separately in a vehicle as Calvert is considering partnering with Bechtal.org, a social enterprise within Bechtel. Bechtel is acting as the technical assistance provider and the community-last-mile to the contractors and organizations that are working on infrastructure projects. The fund would begin in Malaysia (which has a national adaptation plan to drive projects) and then Indonesia. n Save the Children launched Save the Children Global Ventures Fund (GVF) to leverage its international networks and experience. 61 Established in 1919, Save the Children works in 116 countries (with an office in Japan) and reached 285 million people in 2023 (105 million children, 45 million community health workers, and 87,500 educators). 62 It works with government and development finance institutions. GVF is an evergreen fund with a global reach and supports social enterprises, innovative finance vehicles for a positive impact on vulnerable children in healthcare, education, child protection and cross-sectional areas. GVF provides debt, catalytic equity, and guarantees which range from US$250,000-1,000,000. It has three funds, the first of which was US$5 million and is now fully deployed. 63 The second fund is the Children’s Impact Multiplier Fund which is US$2.5 million and growing. 64 Finally, the third fund is the Generation Empowerment Fund which will be US$50 million, with current principal commitments of $20 million. 65 There is a focus in Rwanda and South Africa with investments impacting two hundred early childhood centers and six thousand children. USAID and the Rwandan and South African governments are financial partners. n Raven Capital Indigenous Foundation offers both examples of an Outcome Fund and community participation in the investment process. 66 In 2024, Raven Indigenous Outcomes Funds launched the first-of-its-kind Indigenous Outcomes Fund. The fund is a key tool in scaling outcomes-based contracts in Indigenous communities and tackling some of the most intractable social-economic issues in these communities. 67 Raven Outcomes pioneered an Indigenous-led and community-centered financing tool in several communities in central Canada. The first project this involved was housing efficiency retrofits and geothermal ground source heat pump installations in 124 Peguis First Nation and Fisher River First Nation on-reserve residential homes (US$5.1 million outcomes purchase). 68 The second project is a similar housing retrofit and geothermal installation in one hundred homes in Brokenhead Ojibway Nation (US$7.5 million). The third active project is Minoayawiin, a US$13.8 million stabilization outcomes contract focused on programming and infrastructure across two communities. 69 In all cases, upfront operational capital was provided by private investment, and the outcomes purchase was undertaken by both federal and provincial governments and in some instances Indigenous governments stacked capital. 182
Ten Years in the Making
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