The Women Entrepreneurs Finance Initiative (We-Fi) has announced its third funding allocation comprising $49.3 Million – expected to benefit over 15,000 women-led businesses and mobilize about $350 million of additional public and private sector resources.
We-Fi’s latest round of allocations addresses the needs of women entrepreneurs created by the COVID-19 crisis and encourages innovation and digital development, partnership development, and the use of results-based mechanisms to facilitate greater access to financing for women entrepreneurs.
The third round allocates funding for programs to boost women’s entrepreneurship that will be implemented by four multilateral development banks; the European Bank for Reconstruction and Development for programs in Central Asia and the North Africa region, the Inter-American Development Bank for projects in Latin America, the Islamic Development Bank for entrepreneurship activities in fragile contexts in West Africa, and the World Bank Group for projects in the Sahel region, MENA and global programs.
Over 65 percent of the most recent allocations will benefit women entrepreneurs in low-income (IDA-eligible) countries and countries affected by fragility and conflict. As a result of three financing rounds which now total almost $300 million in allocations, programs backing women-led businesses will soon expand to 61 countries.
For more details and/or to sign up, visit We-Fi.org
