As of June 2022, IFC’s Banking on Women business has mobilized and invested over US$3.5 billion in financial institutions, specifically to finance women-led SMEs. Since its launch, IFC’s Banking on Women business has been providing financial and business solutions to women-led SMEs through its financial institution partners, with 204 investment and advisory services projects in 66 countries, and an estimated 38% of the projects are in IDA and Fragile and Conflict-Affected (FCS) countries.
IFC’s Banking on Women business has helped catalyze sustainable financial services for women and women-owned SMEs in emerging markets globally including through the landmark Women Entrepreneurs Bond with Bank of Ayudhya in Thailand; through advisory services collaboration with partners such as Ghazanfar Bank in Afghanistan and Stanbic Bank in Kenya; and through investing in partners in Brazil such as Banco Santander, Itau Unibanco, and Banco Daycoval.
Gender-focused and climate finance solutions are at the top of IFC’s private sector development priorities. This year, IFC focused on abating the negative impacts of COVID-19 for companies, communities, and countries through initiatives like the WCS COVID-19 Facility, the BOW-Global Trade Finance Initiative, and the Base of the Pyramid Facility. Next year, IFC will continue expanding gender-lens approaches into its business areas, including MSME finance, climate finance, fintech and digital finance, housing and asset finance, insurance, trade finance, and capital markets through Gender Bond instruments.