The 
government-backed US International Development Finance Corporation (DFC) recently announced a set of initiatives to boost its promotion of gender equity, including: (1) an increased goal of investing USD 12 billion in women over five years through its 2X Women’s Initiative, which supports “investment in projects that are owned by women, led by women, or provide a product or service that empowers women;” (2)
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MICROCAPITAL BRIEF: G7 Nations Raise $2.5b for 2X Challenge for Women Entrepreneurs
The Group of Seven (G7) large economies recently announced that they have mobilized a total of USD 2.47 billion in “gender-smart” investments as part of the 2X Challenge, which was initiated in 2018 by the US government’s Overseas Private Investment Corporation (OPIC). The goal of the 2X Challenge is to
MICROCAPITAL BRIEF: CDC, FinDev Canada, Mastercard Foundation, OPIC, PROPARCO Sponsoring 2X Invest2Impact Competition, Offering $1m to “High-potential” Women Entrepreneurs in East Africa
A group of development finance institutions (DFIs), along with the Canada-based Mastercard Foundation, recently announced they will sponsor the 2X Invest2Impact business competition with the aim of supporting “the growth of high-potential, women-owned businesses [in East Africa] to increase their commerciality and impact.” The DFIs co-sponsoring the competition include the following government-backed institutions: CDC Group, a UK-based organization formerly known as the Commonwealth Development Corporation; FinDev Canada; the US government’s
MICROCAPITAL BRIEF: G7 Nations Triple OPIC Target, Pledge to Mobilize $3b for 2X Challenge for Women Entrepreneurs
Seven development finance institutions (DFIs) from the G7 group of seven large economies recently pledged to raise an additional USD 2 billion by 2020 for the “2X Challenge: Financing for Women” initiative, which was unveiled by the US-based Overseas Private Investment Corporation (OPIC) with a target of USD 1 billion in March 2018.
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Commits $350m to Female Entrepreneurship, Women-led Private Equity Funds in Emerging Markets via 2X Women’s Initiative
The Overseas Private Investment Corporation (OPIC), an agency of the US government that seeks to facilitate investment by US-based firms in developing countries, announced yesterday that it is committing USD 350 million to businesses and private equity funds led by women in developing countries. The includes applying a “gender lens to all the projects OPIC considers.”
OPIC CEO Ray Washburne said, “OPIC is proud to drive this effort through its 2X Women’s Initiative, which will mobilize USD 1 billion in investments to
MICROCAPITAL BRIEF: Zanaco Borrows $50m from BII to Support MSMEs, Climate-change Mitigation in Zambia
Zambia National Commercial Bank (Zanaco) recently borrowed USD 50 million from British International Investment (BII), the UK government’s development finance institution, with the goal of funding micro-, small and medium-size enterprises (MSMEs) as well as climate-focused initiatives such as renewable energy generation. BII is looking to
MICROCAPITAL BRIEF: Aavishkaar India Fund VI Nets $130m for MSMEs Addressing Climate Change, Agtech, Fintech – Anchored by Public Funding from Domestic, European Sources
Aavishkaar Capital, a subsidiary of India’s Aavishkaar Group, recently completed the first close of its Aavishkaar India Fund VI with commitments totaling INR 10 billion (USD 130 million) to invest mainly in micro-, small and medium-sized enterprises (MSMEs). In particular, Sushma Kaushik, a partner at Aavishkaar Capital, said that the fund aims to
MICROCAPITAL BRIEF: DFC Announces $150m Loan to Produbanco of Ecuador to Support Women’s Enterprise, SME Lending, Green Projects
Banco de la Producción SA (Produbanco), a bank in Ecuador, recently agreed to borrow USD 150 million from the US International Development Finance Corporation (DFC), a government-backed development finance institution. One half of the funding is for on-lending to small and medium-sized enterprises (SMEs) to support
MICROFINANCE PAPER WRAP-UP: “Gender Equity in Development Finance Survey,” by Nancy Lee et al, Published by Centre for Global Development
Based on a survey of 16 development finance institutions (DFIs), this document offers a baseline of the extent to which “institutions incorporate gender objectives or analysis when developing investments, assessing development effectiveness, sourcing deals, and making investment decisions.” In particular, the survey investigates:
MICROFINANCE PAPER WRAP-UP: “Gender Data in Financial Inclusion,” Published by CGAP’s FinEquity
This brief argues that research and analysis of sex-disaggregated data can allow stakeholders to accelerate the financial inclusion of women, bridging the gaps in women’s account ownership and finance for women-owned micro-, small, and medium-sized enterprises (MSMEs). Building on its 2018 Data Bootcamp on
MICROCAPITAL BRIEF: Banco del País, Citibank, DFC, Microsoft, Government of Taiwan, Collaborate to Support Women-led SMEs, “Gender-smart” Investing, Technology Infrastructure
The US International Development Finance Corporation (DFC), a government-backed institution, recently announced it will participate in the following initiatives promoting the economic empowerment of women:
1) The office of the US President and DFC increased the target of funds to be mobilized through the 2X Women’s Initiative of the Women’s Global Development and Prosperity (W-GDP) Initiative to USD 6 billion. 2X Women was launched in 2018 and has since documented
MICROCAPITAL BRIEF: FinDev Canada, FMO Loan $72m to Latin American Agribusiness Development (LAAD) for SME Finance
Development finance institutions (DFIs) FinDev Canada and the Netherlands Development Finance Company, which also is known by its Dutch acronym FMO, recently provided a syndicated loan of USD 72 million to the US-based, for-profit Latin American Agribusiness Development Corporation (LAAD). LAAD will use the funds to finance term loans and revolving lines of credit to small and medium-sized enterprises (SMEs) involved in agriculture in Latin America and the Caribbean, with the goal of spurring market development and job growth in rural communities. LAAD requires that each of its loans is used according to an
MICROCAPITAL BRIEF: Proximity Finance Raises $14m in Equity from Finnfund, Nordic Microfinance Initiative, Proparco to Support Farmers in Myanmar
Proximity Finance, a unit of Myanmar-focused social enterprise Proximity Designs, recently agreed to a package of equity investments totaling USD 14 million in equal shares from three European institutional investors, Proparco (Promotion et Participation pour la Coopération Économique), the Nordic Microfinance Initiative (NMI) and Finnfund. The deal, which is pending regulatory approval, would support Proximity Finance’s services to small-scale, rural farmers in Myanmar, including plans to disburse 1.5 million loans within four years and expand
MICROCAPITAL BRIEF: Development Finance Institutions Collaborate to Add Gender Metrics to Global Impact Investing Network (GIIN) IRIS+ System
A group of development finance institutions (DFIs) recently collaborated with the US-based nonprofit Global Impact Investing Network (GIIN) to improve the way they track the results of their investments in women in developing countries. The outcome is an expansion of GIIN’s Impact Reporting and Investment Standards Plus (IRIS+), which provides a framework to “identify, measure and manage the social and environmental impact of investors’ actions and report their impact” as well as provide investors with “impact data” that can inform their investment decisions.
The new metrics are grouped into approaches such as gender-specific services; increasing equality through financial inclusion; and
MICROCAPITAL BRIEF: US International Development Finance Corporation (DFC) Launches, Combining Efforts of OPIC, USAID’s DCA with Investment Cap of $60b to Focus on Low-income, Lower Middle-income Countries
The government-backed US International Development Finance Corporation (DFC) recently launched with goals to “help businesses expand into emerging markets, foster growth and improve lives in the developing world, while reinforcing US foreign policy and national security interests.” DFC is taking over the work of the Overseas Private Investment Corporation, which had similar goals and an investment cap of USD 29 billion, and the
MICROCAPITAL BRIEF: Wells Fargo, OPIC Commit $108m to Banco Pichincha for MSMEs Supporting, Controlled by Women in Ecuador
The Overseas Private Investment Corporation (OPIC), an agency of the US government that promotes economic partnerships in countries deemed important to US interests, recently committed to loan USD 100 million to Banco Pichincha of Ecuador for on-lending to micro-, small, and medium-sized enterprises (MSMEs) that are “owned by, led by, or support women.” Wells Fargo, a US-based financial services provider, also has committed USD 8.5 million to the project, which is expected to reach
MICROCAPITAL BRIEF: OPIC Loans $138m to Banco Regional for Small, Medium-sized Enterprises (SMEs) in Paraguay
The Overseas Private Investment Corporation (OPIC), an agency of the US government that facilitates investment by US-based firms in developing countries, recently loaned Banco Regional SAECA USD 138 million for on-lending to small and medium-sized enterprises in Paraguay. A portion of the loan proceeds are intended to increase financing options
MICROCAPITAL BRIEF: Banco Sudameris, OPIC, Citi Cooperate on $125m Loan Package for SMEs in Paraguay, Focusing on Women Entrepreneurs
As part of its 2X Women’s Initiative, the US government’s Overseas Private Investment Corporation (OPIC) has partnered with Colombia-based Banco Sudameris and US-based Citi to assemble USD 125 million for Banco Sudameris to lend to small and medium-sized enterprises (SMEs) in Paraguay. This includes USD 23.44 million