Convergence & HIFHUB: Data Brief on Humanitarian Blended Finance (Dec 2025)

This brief identifies a set of blended finance structures and solutions that can be standardised and scaled to mobilise additional investment in support of humanitarian outcomes in Fragile and Conflict-affected Situations (FCS). For humanitarian actors and donors, it emphasises the additionality of blended finance not only in terms of mobilised capital, but critically, in terms of impact.
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Developed by Convergence in collaboration with HIFHUB, the brief is designed for a range of stakeholders including humanitarian agencies, donors, DFIs, and investment partners. It incorporates data analysis from Convergence Market Data, a survey of existing publications and reports on humanitarian blended finance and innovative finance, and consultations with sector experts.

It builds on the findings of a data brief on Blended Finance in Fragile and Conflict-affected Situations (FCS) published in March 2025 by Convergence. The March brief analysed 54 blended finance transactions from Convergence Market Data, alongside interviews with industry stakeholders, to examine key market trends and highlight the challenges and opportunities associated with deploying blended finance in countries classified as FCS.

Find the March 2025 data brief here.