PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

606868

Primary Business Area

Other

Disclosure Date

Dec 9, 2024

Country

Colombia

Region

Latin America and the Caribbean

IFC Approval Date

May 22, 2023

Status

Active

Estimated Total Budget

$666,060.00
(Project budget includes all project-funded activities)

Last Updated Date

Dec 10, 2024

Project Estimated Start Date

May 21, 2023

Project Estimated End Date

Dec 31, 2025

Client Legal Name

CAMARA DE COMERCIO DE BOGOTA ,CALI CHAMBER OF COMMERCE

Project Description

Sourcing2Equal is an IFC-led initiative, in partnership with the Women Entrepreneurs Finance Initiative (We-Fi) and the Government of Norway, that aims to connect thousands of women entrepreneurs to new markets via corporate procurement. Globally, less than one percent of procurement purchases made by large companies is earned by women-owned businesses. Sourcing2Equal Colombia, launched in 2023, is the second country program under the Sourcing2Equal Global program that brings together corporate buyers operating in Colombia to make specific, measurable, and time-bound commitments to increase access to corporate procurement opportunities for women-owned small and medium enterprises (WSMEs). It also strengthens the business capacity of WSMEs suppliers on procurement readiness to overcome the barriers they face to meet buyer procurement requirements and become eligible to participate in private sector procurement, and facilitates linkages between buyers and suppliers. Through the program, corporate buyers in Colombia will participate in peer learning events to share their expertise and expand their knowledge of best practices in gender-inclusive sourcing, as well as receive one-on-one expert mentoring and sounding board guidance to achieve their gender commitments.

Development Results

E&S Risks / Impacts and Mitigation