During the G20 Leaders Summit, the World Bank Group announced the creation of the Women Entrepreneurs Finance Initiative (We-Fi), an innovative new mechanism that will aim to enable more than $1 billion to advance inclusive economic growth through women’s entrepreneurship. We-Fi, the first World Bank-led facility to advance women’s entrepreneurship on this scale, will use resources from both the public and private sectors in order to help address the particular barriers faced by women entrepreneurs and women business-owners, particularly those in developing countries. Specifically, We-Fi will assist women in developing countries to gain increased access to finance, local and global markets, and mentors and networks necessary to both start and grow a business. We-Fi will also aim to improve the business environment for women-owned SME’s in global supply chains.
The We-Fi facility was initiated by the United States, who will serve as a founding member, along with other donor countries. Read the full World Bank press release and get more information about the initiatve at the links below.