Women’s World Banking Capital Asset commits to apply the flagship 2X Challenge fund
During the Generation Equality Forum, Women’s World Banking Asset Management LLC undertakes to apply the criteria of the 2X Challenge to its investments via its WWB Capital Partners II fund. With this commitment, WWB Capital Partners II, a private equity limited partnership that invests directly in women-focused financial institutions in sub-Saharan Africa, Asia and Latin America, qualifies for the 2X Challenge. In addition, the fund has been selected by the 2X Flagship Funds Committee as a 2X Pioneer Flagship Fund. The 2X Challenge is a leading initiative that deploys and mobilizes capital to empower women and improve their economic participation in emerging markets.
The Women’s World Banking Capital Partners II fund is backed by the United States International Development Finance Corporation (DFC) and the European Investment Bank (EIB), who recently agreed on criteria the fund will follow in order to achieve the objectives of the 2X Flagship Fund. . As members of the 2X Challenge, DFC and the EIB will support the Fund to achieve its 2X Challenge objectives.
The Fund seeks to reach at least 30% of the companies in its portfolio that meet the 2X criteria, increase the number of represented and empowered women in all of its companies, and help them deliver products and services that dramatically improve the livelihoods of people. women in sub-Saharan Africa. , Asia and Latin America. In addition, Women’s World Banking Asset Management LLC is committed to promoting and maintaining gender balance at the fund manager level by strengthening equality and diversity as well as a culture that actively values differences.
“DFC is delighted to support Women’s World Banking Capital Partners II, now recognized as a flagship fund of 2X Challenge pioneers, as the fund strives to unlock the economic potential of women in sub-Saharan Africa, Asia and Latin America.” said Algene Sajery, Vice President of External Affairs at DFC and responsible for global initiatives for gender equity. “Alongside the EIB, we look forward to working with the dedicated Women’s World Banking team as they invest in women-focused financial institutions, promoting gender-focused investing as an effective model for improving financial inclusion. “
Thomas ÖSTROS, Vice-President of the European Investment Bank (EIB) said:
“To accelerate development and reduce poverty, we must tackle the barriers that limit the potential of women. Impactful investments such as those in the Women’s World Banking Capital Partners II Fund are essential to empower women and ensure their full participation in the economy, especially in countries Inequalities are high. Gender equality is a fundamental European value and as Vice-President of the Bank of the European Union I am proud that the EIB supports the 2X Challenge and one of its flagship funds with DFC.
Christina (CJ) Juhasz, Chief Investment Officer, Women’s World Banking Asset Management, said: “We are very grateful for the support of our flagship investors, DFC and BEI, in our strategy to close the gender gap in the Financial inclusion in emerging markets by helping our portfolio companies capture the significant market share of financially underserved women and gain a competitive advantage by attracting female talent to all parts of their organizations. , to the achievement of the ambitions of the 2X Challenge, for the benefit of women and the economies of the world. “