ImpactAlpha, November 19 – U.S. development finance institution OPIC has agreed to invest $50 million in impact investor Global Partnerships’ Impact-First Development Fund. The fund’s aim is to advance products and services for the base of the economic pyramid that “commercial markets fail to support.”
OPIC, which will invest via its 2X Women’s initiative, has particular interest is women’s economic inclusion and impact. OPIC launched 2X Women to catalyze $1 billion in funding to global projects that support women in developing countries.
Development finance institutions from other G7 countries, including Canada, Germany and Italy have collectively pledged to mobilize $3 billion to women-related development initiatives.