U.S. Government to empower women in developing markets

The U.S. Government made substantial commitments to drive women’s economic empowerment in developing markets. The U.S. Agency for International Development (USAID) announced $500,000 in funding and $100,000 in technical assistance to the Women’s World Banking Asset Management (WAM) blended-finance fund.

Joining USAID, the Overseas Private Investment Corporation (OPIC) announced its intent to provide $25 million in financing to the fund. The financing will help mobilize commercial investment to benefit low-income women in Africa, the Middle East, and the Indo-Pacific.

With this significant level of investment, the initiative will lead to increased financial inclusion for low-income women by giving them the opportunity to access loans, develop credit, build savings, and purchase insurance — all critical to breaking the poverty cycle. The fund’s investments will expand women’s access to financial services, through customized products and digital services, to overcome challenges to financial inclusion.

Original source: USAID
Published on 04 June 2019