Development finance institutions (DFIs) are playing an important role in providing capital to support gender equality, the value of women in leadership and markets and women’s economic empowerment worldwide.
In November 2018, Finnfund also joined a new Gender Finance Collaborative.
In May 2019, Finnfund joined the 2X Challenge which aims to collectively mobilize $3 billion in commitments for women’s economic empowerment in developing countries. Finnfund’s first project eligible for the 2X Challenge was the EUR 15 million investment in Indian company Annapurna Finance Pvt Ltd, which offers microloans and related financial literacy education, mainly to poor women in rural India.
The promotion of the rights of women and girls is a long-term priority of Finnish development policy and one of the key objectives of the United Nation’s Sustainable Development Goals. In March 2019, Finnfund adopted a statement on promoting gender equality. The document compiles the measures through which Finnfund guides its investment decisions to better promote gender equality, women’s role in the markets, and women’s economic empowerment. Discussions and cooperation with various stakeholders and experts have been a key element in preparing this statement. Finnfund continues to further improve its tools and processes.
The Finnfund Gender Statement is effective as of 29 March and will be applied to all new investment decisions as well as existing investments, when applicable.
You can read the full text of the Gender Statement here.