IFC, a member of the World Bank Group, and Goldman Sachs 10,000 Women program launched a $600 million global facility that will increase access to finance to as many as 100,000 women entrepreneurs in emerging markets.
The Women Entrepreneurs Opportunity Facility is the first of its kind to be dedicated exclusively to financing women-owned small and medium businesses in developing countries. IFC will invest an initial $100 million and the Goldman Sachs Foundation will provide $32 million. IFC will manage the facility, which is expected to mobilize up to an additional $468 million from public and private investors.
The facility is part of the World Bank’s overall strategy to promote gender equality and ensure the social and economic welfare of one-half of the world’s population. IFC, through its Banking on Women Program, is playing a catalyzing role to help women-owned businesses. Since its inception in 2010, the program has made 17 investments totaling more than $800 million in 17 countries.
See full Press Release: http://ifcext.ifc.org/ifcext/pressroom/IFCPressRoom.nsf/0/46E12EAD05D0619B85257C9200595A41
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