The Women Entrepreneurs Finance Initiative (We-Fi) is a global partnership aimed at unlocking financing for women entrepreneurs in developing countries. Launched in 2017 and hosted by the World Bank Group, We-Fi addresses the systemic barriers that women entrepreneurs face by providing access to financial products and services, building capacity, expanding networks, and offering mentorship opportunities. With funding from 14 governments, We-Fi works with six multilateral development banks as implementing partners: ADB, the African Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, the Islamic Development Bank, and the World Bank Group (including the International Finance Corporation).
We-Fi has been an essential catalytic source of innovative financing, enabling ADB to push for more ambitious programming for women-owned small and medium-sized enterprises.
ADB’s collaboration with We-Fi includes grants to Sri Lanka, Viet Nam, and the Pacific. ADB has already overachieved its targets for Sri Lanka, with over 600 women entrepreneurs accessing finance by mid-2022. In Viet Nam, new blended finance transactions have supported women entrepreneurs during the pandemic. The Women Finance Exchange, a new innovative ADB platform aiming to provide digital solutions to financial institutions and women clients, was launched with the support of We-Fi in 2021.
9 December 2024
ADB and Merchant Finance Pte Limited signed loan and grant agreements to boost access to finance for women-owned and -led small and medium-sized enterprises in Fiji.
The article talks about business enablement trainings being conducted in Papua New Guinea under the Women Accelerating Vibrant Enterprises in Southeast Asia and the Pacific program and financed by the Women Entrepreneurs Finance Initiative.
An ADB–Japan partnership is supporting women–owned small businesses in Sri Lanka to spur economic growth.
The Women Entrepreneurs Finance Initiative is quoted in the following ADB publication:
The publication explains how fintech solutions can help women entrepreneurs in Indonesia, the Philippines, and Viet Nam access the finance they need to expand their micro, small, and medium enterprises (MSMEs) and bolster financial inclusion. A report from the Women Entrepreneurs Finance Initiative provides a reference for understanding the financing gap for women-led MSMEs in Indonesia as discussed in this publication.
The Women Entrepreneurs Finance Initiative contributes to ADB’s development initiatives through cofinancing.
Sovereign Cofinancing. In 2024, the Women Entrepreneurs Finance Initiative (We-Fi) committed almost $2.3 million for technical assistance. This includes $0.6 million to enhance financial inclusion for women-led micro, small, and medium enterprises (WMSMEs) and innovation in financial institutions through new technologies and digital transformation in Fiji, Indonesia, and Sri Lanka. We-Fi also provided $1 million to eliminate constraints and financing gaps for women entrepreneurs and to support government agencies in Fiji and Indonesia in championing the We Finance Code, a key initiative to increase funding for WMSMEs globally.
