IFC, a member of the World Bank, and the program “10,000 Women” by Goldman Sachs are launching a global credit line worth 600 million dollars, which will open up the possibility for financing for a 100,000 women entrepreneurs in emerging markets, announced the World Bank today.
The credit line for women entrepreneurs is the first line of its kind to be devoted exclusively to financing of small and medium-sized enterprises whose owners are women in developing countries.
IFC will invest the initial 100 million dollars, while the Goldman Sachs Foundation will provide 32 million.
This credit line will be managed by the IFC, and is it expected to attract an additional 468 million dollars from public and private investors.
This line of credit is part of the overall strategy of the World Bank in promoting gender equality and ensuring social and economic prosperity for half the world’s population.
Through its program “Investing in Women” the IFC plays a significant role in supporting businesses whose owners are women.
Since it was launched in 2010, the program has implemented 17 investments, exceeding 800 million dollars, in 17 countries.