March 11, 2025 – New York, NY – The Government of Japan, through the Ministry of Finance, has announced an additional $5 million commitment to the Women Entrepreneurs Finance Initiative (We-Fi) to bolster support for women-led businesses in the care economy. This latest pledge brings Japan’s total contribution to We-Fi to $60 million, reaffirming its leadership in expanding economic opportunities, creating jobs, and addressing critical gaps in care services.
The announcement was made at a high-level roundtable The Future of Care: Investing in Women Entrepreneurs to Deliver Care Solutions at Scale, a side event during the 69th Session of the Commission on the Status of Women (CSW69) co-hosted by the Ministry of Finance, Japan, the World Bank, the International Finance Corporation (IFC), the Inter-American Development Bank (IDB), and IDB Invest. The gathering brought together government leaders, foundations, and private sector representatives to highlight the critical role of women entrepreneurs in the care economy and explore solutions to scale investment in care services globally.
As a founding member of We-Fi, Japan has been a steadfast supporter of women’s economic empowerment. Since its initial contribution of $50 million in 2017, Japan has played a pivotal role in mobilizing investments that break down barriers for women entrepreneurs, particularly in sectors that are essential for economic resilience and social well-being.
Speaking at the event via video, Takahiro “Taka” Tsuda, Director of the Multilateral Development Banks Division at the Japanese Ministry of Finance, reaffirmed Japan’s strong commitment, stating:
“Japan is proud to deepen our commitment to We-Fi, whose continued impact in empowering women entrepreneurs has been instrumental in fostering job creation and economic growth in developing countries. Our new pledge reaffirms our strong belief that investing in women-led businesses, particularly in the care economy, is essential for expanding economic opportunities and increasing women’s labor force participation. We look to We-Fi’s thought leadership and partnerships to amplify this impact, and we encourage other donors to join us in supporting this critical initiative.”
The care economy is a key driver of job creation and social stability. It is estimated that 475 million jobs will be needed in the sector by 2030. Investing in childcare, elder care, and other essential services not only creates employment opportunities but also enables more women to enter and remain in the workforce, driving broader economic participation and growth.
Wendy Teleki, Head of the We-Fi Secretariat, welcomed Japan’s increased contribution, emphasizing its importance in catalyzing further investment:
“We are deeply grateful for Japan’s continued leadership and commitment to We-Fi. This latest contribution will play a vital role in supporting We-Fi’s future work, enabling us to expand our efforts in unlocking financing, driving innovation, and scaling impactful solutions for women entrepreneurs.”
With this enhanced commitment, We-Fi will continue working with governments, development finance institutions, and the private sector to unlock financing, provide technical assistance, and advocate for policy reforms that empower women entrepreneurs as powerful drivers of growth and prosperity in developing countries.
