(Photo credit: Tom Saater/International Finance Corporation)
December 9, 2019
The Women Entrepreneurs Finance Initiative (We-Fi) is pleased to announce its third call for proposals. This third round of funding has been redesigned to help Implementing Partners focus on the biggest gaps and opportunities in We-Fi’s theory of change and encourage innovation, partnership development, and the use of results based mechanisms.
To complement the existing programs of the We-Fi portfolio, up to $45 million has been allocated to the following prioritized themes:
- Women-led SMEs in Value Chains,
- Disruptive Technologies and Digital Financial Inclusion for Women-led SMEs,
- Scaling Early Stage Finance for Women-led SMEs.
Incorporating women-owned business into value chains presents an opportunity not only to generate business growth and value-added, but also to strengthen women’s economic and social empowerment. Improving access to disruptive technologies can be essential for women entrepreneurs to access finance, access new customers and markets, develop new innovations, improve productivity, and create the businesses of tomorrow. In order to finance innovative, scalable, and high impact women entrepreneurs, it is important to create the conditions to promote the development of the business angel community, early-stage finance, the venture capital ecosystem, and the financial instruments they use to invest.
The We-Fi Governing Committee seeks a portfolio of programs/projects that demonstrate: 1) mobilization/leverage of significant additional funding from other sources; 2) a focus on low- income countries, IDA and/or fragile and conflict-affected countries/territories and/or underserved women entrepreneurs in middle-income countries); 3) effective use of results based mechanisms or blended finance; 4) Strategic partnerships with a focus on global and regional private sector entities, and non-profits which demonstrate potential to be transformational or scale impact.
Eligible funding proposals must be submitted by accredited multilateral development banks (MDBs); African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, World Bank Group, including International Finance Corporation, and Islamic Development Bank Group. Strategic partnerships and collaboration with private sector entities and non-profit is encouraged. Accredited MDBs must complete all sections of the We-Fi Funding Request Template and submit by March 30, 2020.
For additional information, please refer to the links below: