LatAm List – Women-owned business worldwide face a shortfall of over US$1.7 trillion in financing. To combat this issue in Latin America and the Caribbean, IDB Invest, the private sector arm of the Inter-American Development Bank, and The Overseas Private Investment Corporation (OPIC) have partnered to launch Fund Mujer, a funding line for female-led institutions.
Said Kathryn Kaufman, managing director for Global Women’s Issues at OPIC:
“With Fund Mujer, we are not only investing in women-owned and led enterprises. We are also investing in enterprises that provide quality employment and access to products and services that address critical barriers, so that we may enhance women’s economic participation and success. With Fund Mujer, we are moving beyond merely counting women; we are also valuing women.”
The fund will provide up to US$200M to female entrepreneurs and businesses that empower and employ women across Latin America. The fund will be made up of 30% debt and 70% equity.
Currently, Latin America has the best gender parity in the world for entrepreneurship, but this opportunity could generate more than US$98B for the region.
Read more in the original article on LAVCA.