Deadline: 30-May-22
The Bureau of Oceans and International Environmental and Scientific Affairs (OES) at the Department of State announces a Notice of Funding Opportunity (“NOFO”) for an award entitled, “Enabling Forest Investment Development Facility (ForInvest).”
Project Goals, Objectives, and Approach
- The goal of the ForInvest is to facilitate investment in natural climate solutions in developing countries, especially in high-deforestation areas, by developing investment pipelines and connecting those opportunities with potential investors. These investments should promote natural climate solutions and other land use activities that increase carbon storage or prevent greenhouse gas (GHG) emissions from landscapes. The Project’s objectives include:
- Develop investment pipelines in developing countries consistent with countries’ Nationally Determined Contributions and climate and development objectives.
- Connect the pipeline of investable projects to investors via coordination and engagement with initiatives like the Forest Investor Club, Innovative Finance for the Amazon, Cerrado and Chaco (IFACC), and Mobilizing Finance for Forests.
- Collaborate with institutions including development banks, government ministries, financial institutions, and other initiatives to identify investment partners and relevant resources (I.e., technical assistance, catalytic capital, etc.).
- Enhance the capacity of actors at all stages of project development and investment, including project developers, asset owners, investors, and other institutions, to engage in private investment for natural climate solutions.
- Exploring de-risking mechanisms and innovative financial mechanisms to unlock investment in collaboration with other public and private institutions.
- Applicants should include in their proposal a detailed description of the proposed approach to achieve these goals and objectives. Applicants may propose a variety of approaches, including, but not limited to:
- Providing guidance, technical assistance, and other advisory services to relevant stakeholders in developing countries, which may include project developers, development, green banks, and/or governments, to bring projects to market readiness and improve pipeline development capacity and expertise.
- Using new tools and methods and/or expanding the use of existing tools and methods to aggregate projects to achieve sufficient scale for investment.
- Developing programmatic tools, and collaborating with incubators, investment platforms, and foundations to provide seed capital or investment to early-stage projects.
- Leveraging existing tools or developing new tools to mitigate key investor risks (i.e., foreign exchange, political risk, longer-term credit for nature-based solutions, etc.).
Funding Information
- Award Ceiling: $5,135,000
- Award Floor: $5,135,000
Geographic Emphasis/Countries of Implementation
- The project should encompass all three of the key geographies identified in the Plan to Conserve Global Forests: Critical Carbon Sinks: the Amazon basin, Congo Basin, and Southeast Asia. The proposal should focus on one key high-impact country in each region, for example, Brazil, Indonesia, and the Democratic Republic of Congo, as well as 1-3 additional countries in each region. Proposals should clearly articulate the proposed countries, selected from the list below, and document why these are the best countries for ForInvest success and the capacity of the implementer to carry out work in those countries.
- Dependent on investment opportunities, the project may work in the following countries (50): Argentina, Bhutan, Brazil, Argentina, Bhutan, Brazil, Burkina Faso, Cambodia, Cameroon, Chile, Colombia, Costa Rica, Côte d’Ivoire, Democratic Republic of Congo, Dominican Republic, Ecuador, El Salvador, Equatorial Guinea, Fiji, Gabon, Ghana, Guatemala, Guyana, Honduras, Indonesia, Kazakhstan, Kenya, Lao PDR, Madagascar, Malawi, Malaysia, Mexico, Mozambique, Nepal, Nigeria, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Republic of Congo, Rwanda, Senegal, Sierra Leone, Suriname, Tanzania, Thailand, Uganda, Vietnam, and Zambia.
Eligibility Criteria
- Eligibility is limited to U.S. non-profit/nongovernmental organizations (NGOs) subject to section 501(c)(3) of the U.S. tax code, foreign not-for-profit/NGOs, Public International Organizations; Foreign Public Organizations; profit organizations, and educational institutions.
- Applications submitted by for-profit entities may be subject to additional review following the panel selection process.
- Additionally, the Department of State prohibits profit to for-profit or commercial organizations under its assistance awards.
- Profit is defined as any amount over allowable direct and indirect costs.
For more information, visit https://www.grants.gov/web/grants/view-opportunity.html?oppId=339234
