DFC target additional $6 billion of investment in women

U.S. International Development Finance Corporation (DFC) Chief Executive Officer Adam Boehler joined Advisor to the President Ivanka Trump to announce DFC’s intent to catalyze an additional $6 billion of private sector investment in global women’s economic empowerment through the W-GDP 2X Women’s Initiative, advancing the Administration’s broader Women’s Global Development and Prosperity (W-GDP) Initiative.

The announcement was one of several made in support of women’s economic empowerment at 2X Americas: Investing in the Future of Women, a virtual event hosted by DFC and Concordia.

“The W-GDP 2X Women’s Initiative has helped remove barriers for women’s economic empowerment around the world,” said DFC CEO Boehler. “DFC’s additional commitment to catalyze billions of private sector investment to benefit women will increase the initiative’s impact and help secure a stronger future for families and communities across the developing world.”

Women represent an immense global opportunity, but persistent challenges—including a roughly $300 billion shortfall in access to credit—prevent them from reaching their full potential. In Latin America alone, women could add an estimated $2.6 trillion to GDP by 2025 if the gender gap is bridged. Further, when women earn a competitive income, they spend the majority of their earnings on their families—a reinvestment that contributes to stronger and more resilient communities.

W-GDP’s 2X aims to unlock the enormous opportunity women represent while addressing the unique challenges they face by prioritizing projects that are owned by, led by, or provide a product or service that intentionally empowers the world’s women. The initiative was launched during Women’s History Month in March 2018 with a $1 billion goal—a milestone DFC surpassed in less than a year. To date, DFC has catalyzed more than $3 billion of investment in projects that meet the 2X Criteria.

Original source: DFC
Published on 6 August 2020