International Women's Forum member Mary Ellen Iskenderian, President & CEO of Women’s World Banking, shares three key points for expanding women’s financial inclusion in response to the impact of the ongoing pandemic.

High-level representatives from Latin America and the Caribbean noted that digital means continued to offer alternative modes for countries to achieve their financial inclusion goals and reach worst-impacted groups.

The financing package consists of $130 million from IFC's own-account and a $270 million syndicated loan from a group of 10 banks.

The awards support innovative COVID-19 response and recovery efforts related to savings groups, in the areas of women’s livelihoods, voice and leadership, violence against women, digital savings groups and more.

The loan aims to help the bank increase lending for climate-friendly projects and to smaller businesses, especially those owned by women.

Amartha will use the funds from US-based Lendable to encourage women micro entrepreneurs.

These loans are intended to support 9,100 people, 90 percent of whom are women, whose livelihoods have been threatened by the effects of the COVID-19 pandemic.

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.

The nonprofit’s new $17.5 million impact fund will specifically focus on supporting underserved women business owners impacted by COVID. 

The SEEP Network is excited to announce a challenge fund to support innovations in gender-intentional COVID response and recovery efforts related to Savings Groups.