Women’s World Banking Capital Asset commits to apply 2X Challenge flagship fund
The 2X Challenge is a leading initiative deploying and mobilizing capital to empower women and enhance their economic participation in emerging markets.
During the Generation Equality Forum, Women's World Banking Asset Management LLC commits to apply the 2X Challenge criteria to its investments through its WWB Capital Partners II fund. With this commitment, WWB Capital Partners II, a private equity limited partnership that makes direct equity investments in women-focused financial institutions in Sub-Saharan Africa, Asia and Latin America, qualifies for the 2X Challenge. Moreover, the fund has been selected by the 2X Flagship Funds Committee as a 2X pioneer flagship fund. The 2X Challenge is a leading initiative deploying and mobilizing capital to empower women and enhance their economic participation in emerging markets.
Women's World Banking Capital Partners II fund is supported by the United States International Development Finance Corporation (DFC), and the European Investment Bank (EIB), who recently agreed upon the criteria that the Fund will follow in order to meet the 2X Flagship Fund goals. As members of the 2X Challenge, DFC and EIB will support the Fund to achieve its 2X Challenge objectives.
The Fund seeks to reach at least 30% of its portfolio companies meeting the 2X Criteria, increase the number of women represented and empowered in all its companies and support them to provide products and services that significantly improve the livelihoods of women across Sub-Saharan Africa, Asia and Latin America. In addition, Women's World Banking Asset Management LLC commits to promote and maintain gender balance at the fund manager level by enhancing equality and diversity as well as a culture that actively values differences.
"DFC is thrilled to support Women's World Banking Capital Partners II, now recognized as a 2X Challenge Pioneer Flagship Fund, as the fund works to unlock the economic potential of women across Sub-Saharan Africa, Asia and Latin America," said Algene Sajery, DFC's Vice President for External Affairs and Head of Global Gender Equity Initiatives. "Alongside EIB, we look forward to working with the dedicated team at Women's World Banking as they invest in women-focused financial institutions, promoting gender-lens investing as a successful model to improve financial inclusion."
Thomas ÖSTROS, Vice-President of the European Investment Bank (EIB) said:
"To accelerate development and reduce poverty we must tackle the obstacles that limit women's potential. Impactful investments such as the ones of the Women's World Banking Capital Partners II Fund are crucial to empower women and ensure their full participation in the economy, especially in countries where inequalities are high. Gender equality is a core European value and as the Vice-President of the Bank of the European Union, I am proud that the EIB is supporting the 2X Challenge and one of its Flagship funds together with DFC."
Christina (CJ) Juhasz, Chief Investment Officer, Women's World Banking Asset Management said: "We are so grateful for the support of our anchor investors, DFC and EIB, in our strategy to close the gender gap in financial inclusion in the emerging markets by helping our portfolio companies capture the sizable market share of financially underserved women and gain a competitive edge by attracting female talent to all parts of their organizations. We are honoured to be named a 2X pioneer flagship fund and committed, with the support of DFC and EIB, to achieving the ambitions of the 2X Challenge—for the benefit of women and of economies globally."