Where the capital comes from
Restoring degraded land at national scale is not fundable from any single pocket. This page sets out the sources MNCRIP works with, the instruments they arrive as, and the facilities that organise them.
No capital target, commitment or mobilisation figure is published on this site, because none is verified. When one exists it will appear here labelled with which of those three it is.
Six thematic facilities
MNCRIP is not a single fund. A facility is a structure, not a pot: it defines the instruments, risk appetite and return profile available to a class of investment, so capital with a mandate can find the part of the portfolio that fits it.
Climate Facility
- Climate adaptation
- Climate resilience
- Ecosystem restoration
Sustainable Agriculture
- Feed systems
- Precision agriculture
- Biotechnology
Water Security Facility
- Watershed protection
- Irrigation
- Water storage
Nature Finance Facility
- Biodiversity
- Natural capital
- Ecosystem services
Carbon Facility
- Carbon projects
- Carbon markets
- Carbon credits
Sustainable Infrastructure
- Renewable energy
- Green buildings
- Climate infrastructure
Facility structures and instrument terms are under development. What is settled is the architecture; what is not is any specific term sheet.
Eight sources, blended to de-risk and crowd in
Public and concessional capital carries the risk that commercial capital cannot price yet. As evidence accumulates, that risk falls and the commercial share rises. That progression is the whole financing thesis.
Development finance
Concessional loans, grants and technical assistance from bilateral and multilateral institutions.
Climate finance
Dedicated adaptation and resilience funds, and the vertical climate funds.
Blended finance
Concessional and commercial capital combined so a project that neither could carry alone becomes financeable.
Catalytic capital
First-loss, subordinated and risk-tolerant capital whose job is to make the next tranche possible.
Private capital
Commercial equity and debt seeking a return alongside the outcome.
Institutional capital
Pension, insurance and sovereign allocations with long horizons that suit land assets.
Public finance
National and local budget, subsidy and co-funding.
Nature & carbon finance
Carbon credits, biodiversity credits, ecosystem-service payments and green bonds.
The instruments they arrive as
Debt
Senior, subordinated and concessional lending.
Equity
Direct and co-investment stakes in project vehicles.
Guarantees
Partial risk and partial credit cover that lowers the cost of borrowing.
Technical assistance
Grant-funded expertise that raises project quality before capital commits.
Project preparation finance
The money that gets a concept to the point where it can be appraised at all.
De-risking and enablers
Instruments alone do not make a project financeable. These do the rest.
- Policy & regulatory support
- Capacity building
- Data & transparency
- Environmental & social safeguards
Project preparation is the bottleneck
The shortage in Mongolian land restoration is not capital looking for projects. It is projects prepared well enough for capital to appraise. Preparation finance is therefore the highest-leverage money on this page, and the earliest place a development partner can make a difference.
What our capital words mean
Platforms at this stage routinely present a target as though it were a commitment. MNCRIP publishes the distinction instead, so that any figure appearing here later can be read for exactly what it is.
- An intended amount. Not raised, not committed.
- A preliminary estimate, subject to change.
- A documented commitment exists. Only then.
- Capital has actually been mobilised. Only then.
- A figure at concept level.
- Being structured; no figure is settled.
- Prepared against defined readiness criteria.
“Committed” and “mobilised” are used only where a document supports them. Until then a number is a target, and will say so.
Finance is one half of the question
This page covers where capital comes from. What it can actually be put into — the pipeline, the opportunities and the structures — is the investment page.