DB Invest and OPIC Launch First Gender Lens Investment Fund for Latin America and the Caribbean
October 2, 2018
(OPIC)
Buenos Aires – IDB Invest, the private sector
institution of the Inter-American Development
Bank (IDB) Group, and the Overseas Private
Investment Corporation (OPIC), the U.S.
Government’s development finance institution,
announced today an alliance for the creation of
the first gender-focused fund for Latin America
and the Caribbean for up to $200 million. The
initiative, called Fund Mujer, is expected to
be comprised of 30 percent debt and 70 percent
equity.
The aim of the fund is to narrow the gender
financing gap in Latin America and the
Caribbean by supporting investment strategies
focused on women-owned businesses, female
entrepreneurs, and firms that generate jobs or
consumer products for women.
"Women worldwide face a $320 billion shortfall
in access to credit. In Latin America and the
Caribbean, the region with the highest
percentage of women-entrepreneurs, the business
opportunity could reach more than $98 billion
annually. It is not only about fairness, but
about business success,” said IDB Invest
Chief Investment Officer Gema Sacristan.
“With Fund Mujer, we are not only investing
in women-owned and led enterprises. We are also
investing in enterprises that provide quality
employment and access to products and services
that address critical barriers so that we may
enhance women’s economic participation and
success. With Fund Mujer we are moving beyond
merely counting women; we are also valuing
women,” added OPIC Managing Director for
Global Women’s Issues Kathryn Kaufman.
The creation of the fund underscores IDB Invest
and OPIC’s commitment to expanding financing
options for women in business in Latin America
and the Caribbean and builds on OPIC’s
leadership in gender lens including through
OPIC’s 2X Initiative, the criteria for which
will be applied to this fund. The initiative
will be carried out through a Request for
Proposals to support one or more funds with a
gender lens investment strategy. It is expected
that the selected fund managers will be
announced during the first quarter of 2019.
Learn more about Fund Mujer.
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