IFC, a member of the World Bank Group, and Goldman Sachs 10,000 Women program launched a $600 million (Rs 3600 crore) global facility that will increase access to finance to as many as 100,000 women entrepreneurs in emerging markets.
Women Entrepreneurs Opportunity Facility
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.
An estimated $300 billion credit gap exists for women-owned enterprises, according to IFC research. Unfavorable business and regulatory conditions are also among the many barriers that impede women entrepreneurs. The new facility will extend lines of credits and share risk with local banks in developing countries to help ensure and promote access to finance for women entrepreneurs. ”
IFC and the 10,000 Women program will also provide training and advice to women entrepreneurs. The foundation will provide $18 million in grants—$11 million of which will go to IFC to provide advisory services— to expand financial-planning support for women entrepreneurs.
To know more about the 10,000 women program visit