33997 - Global Facility for Women Entrepreneurs

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Summary of Investment Information

Project Number

33997

Company Name

BANKING ON WOMEN - GOLDMAN SACHS

Date SPI Disclosed

Feb 7, 2014

Country

World Region

Region

Global

Projected Board Date

Feb 27, 2014

Environmental Category

FI-2 - Limited

Status

Pending Signing

Last Updated Date

Nov 30, 2016

Department

WBG Prosperity

Industry

Financial Markets

Previous Events

Approved : Feb 27, 2014

Sector

Commercial Banking - Risk Mgmt Facility

Project Description

The project is part of IFC’s response to the global need to support and strengthen the underserved sector with the aim of supporting job creation and economic growth. Since 2010, IFC’s Banking on Women (“BoW”) program has played an important role in establishing the women’s market as a key underserved sector, through investments in relationship Financial Institutions as well as partnerships with multinational corporations, with the shared goal of promoting economic security for women entrepreneurs.

IFC is exploring financing solutions for women entrepreneurs in partnership with Goldman Sachs Foundation (“GSF”), with the goals of increasing access to finance for women-owned SMEs in emerging markets globally, and further demonstrating the commercial viability of investing in such women by mobilizing funding from other investors and donors. IFC will invest up to US$100 million in the Facility. GSF intends to provide funding for junior tranche investments and advisory services.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	100.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Straight Senior Loan	Loans to SME Borrowers

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

1) Increasing access to finance to women-owned SMEs, an underserved segment, and supporting job creation through the financing of these women-owned SMEs;
2) Mobilization of capital from investors and donors to further demonstrate the commercial viability of investing in women entrepreneurs;
3) Transforming the market through a demonstration effect to encourage FIs in the target markets to scale up lending to the women entrepreneur segment beyond the life of the proposed project;
4) Building the capacity of financial institutions to lend more effectively to the women entrepreneur segment;
5) Access to LCY Commercial Longer Tenor Funding for FIs.

1) IFC brings its unparalleled track record in investing in women entrepreneurs, market knowledge, and global network to the origination and execution of investments under the Facility;
2) IFC will play a lead role in attracting the participation of commercial investors and donors to address the significant gaps in the financing of women-owned SMEs;
3) IFC has been instrumental in structuring and designing the Facility and developing its features, incorporating preferences and feedback from the anchor donor;
4) IFC will provide unique combination of Investment and Advisory Services to build the capacity of financial institutions in the sector.

E&S Category Rationale / Risks and Mitigation

The project establishes a facility to provide credit lines, guarantees and credit enhancements to banks and NBFIs to support financing of women-owned SMEs. It has been classified as a Category FI-2 project according to IFC’s Sustainability Framework. Considering that IFC’s financing to FIs focuses on SMEs, the facility’s subprojects will be required to comply with the IFC’s Applicable Requirements, which is a combination of the IFC FI Exclusion list, the national laws and regulations, and where necessary, the IFC Performance Standards.

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