IFC and Goldman Sachs announced the launch of the Women Entrepreneurs Opportunity Facility, the first of its kind fund to be dedicated exclusively to financing women-owned small and medium businesses in developing countries. IFC will invest an initial $100 million and the Goldman Sachs Foundation will provide $32 million. IFC will manage the facility, which is expected to mobilize up to an additional $468 million from public and private investors.
Lloyd C. Blankfein, chairman and CEO of the Goldman Sachs Group, Inc. , said: “Through the experiences of the 10,000 Women graduates, we have seen first-hand that investing in women is a key source that leads to economic growth, but there is clearly more that can be done. By partnering with IFC, we will address one of the biggest obstacles to growth for women-owned small and medium businesses: access to capital.”
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