The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Group of 20’s (G20’s) Global Partnership on Financial Inclusion have partnered to launch the “Women’s Finance Hub,” an online platform to help advance access to finance for women entrepreneurs. The hub intends to promote access to finance for women entrepreneurs by disseminating research and other information on issues related to women’s markets, addressing gaps in data, promoting collaboration amongst researchers and highlighting innovation and best practices. As of 2013, the IFC reports that women-owned businesses account for more than 30 percent of the 200 million small businesses in emerging markets that do not have access to credit. The G20 is a group of 19 countries with large economies and the EU.
By Brian LeBlanc, Research Associate
About the International Finance Corporation (IFC)
A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC reported total assets of USD 75.7 billion.
About Global Partnership for Financial Inclusion (GPFI)
Global Partnership for Financial Inclusion (GPFI) is a group intended to carry forward work on financial inclusion, including implementation of the Financial Inclusion Action Plan endorsed at the G20 Summit in South Korea in 2010. GPFI implementing partners include Thailand-based NGO Alliance for Financial Inclusion (AFI), US-based NGO (CGAP) (Consultative Group to Assist the Poor) and the World Bank. The G20 is a group of 19 countries with large economies and the EU.
About G20
Established in 1999, the Group of Twenty (G20) brings together finance ministers and central bank governors of “systematically important” industrialized and developing economies to discuss key issues in the global economy. The G20 is made up of representatives from 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, the UK and the US. The European Union is the twentieth member of the G20.
Sources and Additional Information:
MicroCapital article, April 23, 2013, “MICROCAPITAL BRIEF: International Finance Corporation Places $22m Equity Investment in Ratnakar Bank of India,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-places-22m-equity-investment-in-ratnakar-bank-of-india/
MicroCapital article, March 15, 2013, “MICROCAPITAL BRIEF: SME Finance Forum Launches New Website,” https://www.microcapital.org/microcapital-brief-sme-finance-forum-launches-new-website/
MicroCapital article, June 28, 2012, “MICROCAPITAL BRIEF: G20 Mexico, Ashoka Changemakers Offers $100k for Winning Solution to Financial Services Access,” https://www.microcapital.org/microcapital-brief-g2012-mexico-ashoka-changemakers-offers-100k-for-winning-solution-to-financial-services-access/
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