OPIC Unveils 2X Women's Initiative to Mobilize More Than $1 Billion to Invest in the World's Women
March 7, 2018
(OPIC)
WASHINGTON, D.C. - The Overseas Private Investment Corporation (OPIC) today
unveiled its global 2X Women’s Initiative, which will mobilize more than $1
billion to projects that support women in developing countries, unlocking the
multi-trillion dollar investment opportunity women represent. The announcement
was made at the 8th Annual International Women’s Day Forum, hosted by the U.S.
Chamber of Commerce.
As part of the new initiative, OPIC will directly invest $350 million in
projects that will support lending to women-owned businesses, female
entrepreneurs, as well as women-owned and women-led emerging market private
equity funds. As the U.S. Government’s development finance institution, OPIC
mobilizes private investment to address critical development challenges and
stimulate economic growth in emerging economies.
“Recognizing both the great needs of women in emerging markets and their
collective economic force, the U.S. Government has made investing in women a top
priority,” say Ray W. Washburne, OPIC President and Chief Executive Officer.
“OPIC is proud to drive this effort through its 2X Women’s Initiative, which
will mobilize $1 billion in investments to women in developing countries
throughout the world. OPIC supports investment in global development to advance
economic prosperity and global stability; and women are key drivers to achieving
both.”
OPIC Managing Director of Global Women’s Issues, Kathryn Kaufman, is leading
the 2X Women’s Initiative.
“Research shows that women worldwide face a $300 billion shortfall in access
to credit and that expanding lending to women-owned businesses brings a
significant positive impact to their families and communities,” said Kaufman.
“Through our global 2X Women’s Initiative, OPIC seeks to empower women
through investment because we know that women are the key to more secure and
prosperous communities.”
The 2X initiative commits to apply a gender lens to all the projects OPIC
considers supporting, to evaluate the best ways these projects can support the
needs of women.
OPIC has already committed multiple projects to support this initiative,
including financing to two banks in India - Yes Bank and IndusInd Bank -- to
expand lending and microlending to women-owned businesses; and financing to
Mongolia’s XacBank to support lending to women-owned businesses in that
country.
Learn more about OPIC’s 2X Women’s Initiative here.
Watch the OPIC 2X Video here.
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