IFC, Goldman Sachs launch gender-focused trade finance programme

Friday 5 July 2019 13:26 CET | News

The International Finance Corporation (IFC) and the Goldman Sachs Foundation have launched a first-of-its-kind gender-focused trade finance programme.

The initiative, Banking on Women-Global Trade Finance Program (BOW-GTFP), will incentivise IFC’s Global Trade Finance Program participating banks to increase trade finance for women importers and exporters and encourage those financial institutions to track their business with female entrepreneurs.

IFC’s partnership with Goldman Sachs 10,000 Women began with the 2014 launch of the Women Entrepreneurs Opportunity Facility (WEOF), which expands access to capital for women entrepreneurs. To date, WEOF has supported the deployment of over USD 1.4 billion to financial institutions reaching over 53,000 women across 32 countries.

To mark the start of the BOW-GTFP, IFC and the Goldman Sachs Foundation signed a Memorandum of Understanding signalling their shared intention to support female entrepreneurs in emerging markets.

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Keywords: IFC, Goldman Sachs, trade finance, Banking on Women-Global Trade Finance Program
Countries: World

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