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.
