Women entrepreneurs in developing countries are creating jobs, advancing gender equality, and helping build economies that work for everyone. Despite the vital role they play, women entrepreneurs often face major obstacles to financing and growing their businesses. These obstacles include limited options for loans and capital, financial services not tailored to their specific needs, and other legal, political, and social barriers.
As part of our Government’s commitment to gender equality and women’s economic empowerment, the Prime Minister, Justin Trudeau, today announced that Canada will contribute $20 million toward the Women Entrepreneurs Finance Initiative (We-Fi). Led by the World Bank, We-Fi will help women-owned and women-led businesses in developing countries to access the resources they need, including financial and technical assistance.
We-Fi will leverage US$200 million of donor funding to attract an additional US$800 million in private capital. The World Bank will direct these funds toward the needs of women entrepreneurs in developing countries. We-Fi will target small and medium-size businesses and will also invest in other projects and programs that support women entrepreneurs.
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