However, the ability of an intervention to mobilise or leverage financing does not necessarily imply effectiveness in a broader sense. For instance, some analysis has highlighted the possibility that high leverage or mobilisation rates may indicate a strong perception of commercial viability amongst private investors who may have invested without public intervention (Stadelmann et al., In addition to its narrow focus, one of the difficulties in using financial mobilisation as an indicator in assessing effectiveness is that there are wide differences in how mobilisation and leverage are defined and measured between different institutions (see Caruso and Ellis, 2013 for a more detailed discussion). Even in the absence of methodological differences, mobilisation rates will vary significantly across financial instruments, technologies, sectors, and countries (UN AGF, 2010; Smallridge, et al.,