Evaluation of Blending published

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ADE has undertaken an ambitious evaluation of Blending as an EU aid modality. The term refers in particular to “blending grants with loans”. The purpose is a strategic use of a limited amount of grants to mobilise larger amounts of financing from partner financial institutions, and thereby enhance the development impact of investment projects.


Since 2007 the EU has set up for this purpose a series of 7 regional investment facilities: the EU-Africa Infrastructure Trust Fund (ITF); the Neighbourhood Investment Facility (NIF); the Latin American IF (LAIF), the Caribbean IF (CIF), the IF for Central Asia (IFCA), the Asian IF (AIF) and the IF for the Pacific (IFP). They cover a broad range of sectors, from energy to transport, water/sanitation, finance for SMEs, and environment.


The evaluation provides an independent assessment of blending as an aid delivery instrument which has gained significant interest and funding by the EU over the last decade. It reviews in particular the relevance, value-added, and results of Blending. It aims at informing future EU choices on blending.


It builds on ADE’s extended experience with evaluations in the field of development finance.


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Evaluation of Blending