At the 2022 G20 Bali Summit, the G20 leaders unanimously ratified the G20 Bali Leaders’ Declaration acknowledging the need for the Global Blended Finance Alliance (GBFA) to serve as a global community of support to accelerate investment in climate action and sustainable development. The ambition of the initiative was to address the huge financing gap through blended finance structures for climate actions and achieving the SDGs in developed and developing countries.
The G20 Bali Global Blended Finance Alliance (GBFA) is envisioned as an international organisation to work with partners to strengthen the blended finance ecosystem and fill market gaps. The G20 Bali GBFA draws on Indonesia’s experience as an emerging economy and successful use of blended finance working with leading experts and delivery partners in development projects. The strategy rests on four key approaches.
The Assembly is the supreme governance organ of the GBFA and shall be composed of Contributing Members and it would include two representatives from the Participating Members as observers at the Assembly.
The Assembly shall meet once every two years in ordinary sessions, or as otherwise decided by the Assembly.
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