Introducing a New Fund to Help Women Entrepreneurs During COVID-19
The COVID-19 pandemic has had an unprecedented impact on trade, investment, growth, and employment, all critical contributors to the achievement of the Sustainable Development Goals (SDGs). While economies around the world are reeling from the pandemic’s impact, some segments are disproportionately affected. This is particularly the case for women-owned micro, small and medium enterprises (MSMEs).
According to the IFC, the finance gap for formal MSMEs in developing countries is valued at $5.2 trillion. Additionally, there is an estimated $2.9 trillion potential demand for credit from the informal sector, which is not adequately served today. There are close to 162 million MSMEs in emerging markets, of which 141 million are micro-enterprises and 21 million are SMEs.