World Bank to fund women-led SMEs with US$1 billion

The World Bank Group has announced a new facility that will work to advance women’s entrepreneurship and help women in developing countries gain increased access to the finance, markets, and networks necessary to start and grow a business. To that end, $1 billion are enabled, not only to improve access to capital and to provide technical assistance, but also to invest in other projects and programs that support women and women-led SMEs.

The Women Entrepreneurs Finance Initiative (We-Fi), the first World Bank-led facility to advance women’s entrepreneurship at this level, has received strong donor support from many countries including Germany and the United States, who invited the Bank to create the facility.

We-Fi will also support complementary public sector interventions that work in favor of the enabling environment and enhance market opportunities for women-owned businesses.

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