BANGKOK, THAILAND - 18 June 2026. As countries across the Asia-Pacific region confront the urgent challenge of financing their climate and development goals, the United Nations Development Programme (UNDP) - through its flagship Climate Finance Network and the UN Capital Development Fund (UNCDF) convened governments, regulators, and financial institutions for a two-day dialogue. The regional event - "From Policy to Capital: Scaling Blended Finance for Inclusive Climate Action" - aimed to exchange good practices and leverage blended finance to turn ambitious climate policies into on-the-ground impact.

Supported by Sweden through Sida and the UK’s Foreign, Commonwealth & Development Office (FCDO) CARA Programme, the dialogue brought together over 70 representatives from ministries of finance, national development banks, private financial institutions, and civil society. 

It addressed the gap between climate targets - reflected in countries’ Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) - and the capital required to meet them. Blended finance - the strategic use of public capital to mobilize private investment - was identified as a critical tool to bridge this divide. 

"Countries across Asia and the Pacific have ambitious climate goals, but turning those ambitions into investment remains a persistent challenge," said Tom Beloe, Director of UNDP's Sustainable Finance Hub. "With the support of partners including Sida and FCDO, UNDP and UNCDF are helping countries strengthen policy and investment readiness, develop investable pipelines and mobilize capital for climate action. By strategically blending public and catalytic capital, countries can attract private investment into areas that remain underfunded, particularly climate adaptation." 

Tom Beloe, UNDP Director of Sustainable Finance Hub, delivering opening remarks. ©UNDP

“Blended finance is not only about mobilizing more capital; it is about directing capital towards the markets, sectors, and communities that are often overlooked,” said Maria Perdomo, UNCDF’s Regional Investment Team Lead for Asia and the Pacific Region. “UNCDF's unique role within the UN system is to deploy catalytic financing and de-risking instruments that help unlock private investment for climate action while ensuring that the benefits reach MSMEs, women-led businesses, and climate-vulnerable populations." 

Maria Perdomo, UNCDF’s Regional Investment Team Lead for Asia and the Pacific Region, delivering opening remarks. ©UNDP

A key theme was the need for a more systematic approach to developing these financial solutions. Discussions drew upon the UNDP’s Strategic Framework for Blended Finance which offers a robust methodology for building investable pipelines and mobilizing private capital at scale. This framework guides stakeholders in strengthening policy and institutional systems needed to make blended finance a repeatable, scalable market reality. 

"Public and concessional finance must work harder, smarter and in close partnership with private capital to protect vulnerable communities across Asia-Pacific," said Bharath Varadhan, SE Asia Climate, Energy & Nature Coordinator at the British High Commission (Singapore), representing the UK Government. "Through our flagship Climate Action for a Resilient Asia (CARA) programme, the UK is moving from traditional aid to a modern partnership model—acting as an investor that helps countries unlock private capital of their own. By supporting platforms like UNDP's Climate Finance Network, we are building the de-risking tools and transparent governance needed to make climate finance a scalable market reality."  

Bharath Varadhan, SE Asia Climate, Energy & Nature Coordinator at the British High Commission (Singapore), delivering opening remarks. ©UNDP

“We particularly welcome the attention to MSMEs, women-led enterprises, and climate-vulnerable communities, who are often at the frontline of climate impacts yet face the greatest barriers to accessing finance,” said Anna Maria Oltorp, Head of the Development Cooperation, Embassy of Sweden in Bangkok. “Partnerships allow us to translate national climate priorities into investable opportunities and ensure that finance reaches the communities and sectors most vulnerable to the impacts of climate change”. 

Anna Maria Oltorp, Head of the Development Cooperation, Embassy of Sweden in Bangkok, delivering opening remarks. ©UNDP

The dialogue reinforced the shared commitment to accelerate climate finance deployment across the region. Stakeholders discussed how to strengthen national financing ecosystems, creating clear policy and regulatory signals needed to attract private investors. Participants agreed to advance the design and application of "green guarantees" and other targeted de-risking mechanisms explicitly structured to support micro, small, and medium enterprises (MSMEs), women-led businesses, and localized climate adaptation efforts. Furthermore, the event fostered ongoing regional collaboration by leveraging the Climate Finance Network to facilitate continuous peer-to-peer learning, allowing countries to share successful models and actively translate NDCs and National Adaptation Plans (NAPs) into robust, investable project pipelines.  

Moving forward, UNDP and UNCDF will work with partners to translate the commitments made during the dialogue into tangible country-level support, helping to develop integrated financing solutions that sustain and scale inclusive climate action across the region. 

For more information and resources from the event, please visit the event page and the UNDP’s Strategic Framework for Blended Finance. 

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For more information, please contact:   

Giulio Fabris, UNDP Communications Specialist  

giulio.fabris@undp.org