Types of capital to advance infrastructure projects at different stages of project life cycleFIGURE 3 Source: Pollination Group Concept Feasibility Financial close Construction Operations Enabling ﬁnance Direct ﬁnance Structuring ﬁnance FI role: Grants and technical assistance Reﬁnancing loans Senior debt, pr oject ﬁnance Developer equity Infrastructur e fund (targeted portfolio mandate) GuaranteesProject pr eparation funding Junior debt (mezzanine) Infrastructur e3Project/Enterprise life cycle Turning the Tide: A Financier’s Guide to Investing in Blue Carbon Ecosystems 19

Turning the Tide A Financier's Guide to Investing in Blue Carbon Ecosystems 2026