The Women Entrepreneurs Finance Initiative, or We-Fi, announced its first funding allocations last week at the World Bank Spring Meetings, dedicating $120 million to programs that support women entrepreneurs in developing countries. Inaccurately characterized as a pet project of the Trump administration, We-Fi’s rapid progress and inclusive approach merit increased investment from donors ready to champion women globally.
Announced at the July 2017 Hamburg G20 Summit with $340 million in initial pledges from thirteen donor countries, We-Fi is the first significant fund to focus on both financing for and systemic barriers to women’s entrepreneurship. The multilateral fund aims to mobilize at least $1 billion in direct and leveraged financing for women-led and women-owned businesses in developing countries by 2022.
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