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OPIC earmarks $350 million to back women-run enterprises and investment funds

Recognizing the “great needs of women in emerging markets, and their collective economic force,” the US Overseas Private Investment Corp. is looking to spur an additional $650 million in private capital to back its new 2X Women’s Initiative.

“Research shows that women worldwide face a $300 billion shortfall in access to credit and that expanding lending to women-owned businesses brings a significant positive impact to their families and communities,” Kathryn Kaufman, the initiative’s lead, states.

OPIC, the self-sustaining development-finance arm of the US government, has already provided financing to Yes Bank and IndusInd Bank in India and Mongolia’s XacBank to expand lending to women-owned businesses.

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