Bibliometric Review of Blended Finance and Partial Risk Guarantee: Establishing Needs and Advantages

Kamakshi Sharma, Tusharika Mahna, Sonali Jain, Sanjay Dhir (), Neeta Rao, Achin Biyani, Himanshu Sikka, Rishit Yadav, Sidharth Dua and Archish Gupta
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Kamakshi Sharma: Department of Management Studies, IIT Delhi, Hauz Khas, New Delhi 110016, India
Tusharika Mahna: Department of Management Studies, IIT Delhi, Hauz Khas, New Delhi 110016, India
Sonali Jain: Department of Management Studies, IIT Delhi, Hauz Khas, New Delhi 110016, India
Sanjay Dhir: Department of Management Studies, IIT Delhi, Hauz Khas, New Delhi 110016, India
Neeta Rao: USAID India, Health Office, American Consulate, C-49, G-Block, Bandra Kurla Complex, Mumbai 400051, India
Achin Biyani: IPE Global Limited, B-84, Defence Colony, New Delhi 110024, India
Himanshu Sikka: IPE Global Limited, B-84, Defence Colony, New Delhi 110024, India
Rishit Yadav: IPE Global Limited, B-84, Defence Colony, New Delhi 110024, India
Sidharth Dua: IPE Global Limited, B-84, Defence Colony, New Delhi 110024, India
Archish Gupta: IPE Global Limited, B-84, Defence Colony, New Delhi 110024, India

IJFS, 2023, vol. 11, issue 3, 1-21

Abstract: A partial risk guarantee (PRG) is one of the critical instruments in the blended finance approach that provides partial assurance to the risk investor to lend leveraged capital to the borrower. Under the PRG scheme, philanthropic capital is employed as a risk guarantee to create financial and economic additionality through the multiplier effect. This study examines the current trends in PRG and blended finance ecosystem research. This study also aims to identify future research areas to work upon. The bibliometric analysis highlights the need and advantages of blended finance and PRG. The study highlights themes, such as climate finance, SDGs, impact investments, and blended finance/PRGs, from the literature on blended finance. This study illustrates the impact for researchers and managers regarding the future direction to undertake and the domains where PRG can work wonders. The research allows for a comprehensive view of the leading trends, such as utilising blended finance tools such as PRG in funding the work in climate financing, SDGs, water, sanitation, and impact investment. This is perhaps the first study to conduct a bibliometric analysis of the developing area of blended finance partial risk guarantee literature to highlight its importance and advantages.

Keywords: bibliometric review; blended finance; borrower; climate; donor; economic additionality; financing; investment; partial risk guarantee; philanthropic funds; risk investor; risk guarantor; sustainable development goals (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2023
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