BIO reaffirms commitment to Women's Economic Empowerment through the 2X Challenge

This belief is at the core of the 2X Challenge, a global initiative launched in 2018 to mobilise investment that advances women's economic empowerment. At this year's 2X Global Summit in Montréal, BIO joined development and multilateral finance institutions from around the world in endorsing a new Statement of Intent, reaffirming our shared commitment to investing in a more inclusive and prosperous future.

This commitment is already reflected in BIO's latest portfolio data (2024), showing strong progress on gender equality: 45% of direct investments and 30 indirect funds support gender-focused objectives or meet 2X Challenge criteria. These investments support – directly and indirectly combined - over 145,000 jobs for women and expand access to finance for women entrepreneurs, demonstrating the powerful role that inclusive private sector development can play in creating opportunities and reducing inequalities.

Some examples in BIO’s portfolio include: 

BRAC International Microfinance (Africa) provides financial services to millions of underserved entrepreneurs across several African countries, the majority of whom are women. By expanding access to finance, BRAC helps women start, sustain and grow businesses, strengthen household resilience and contribute to local economic development. Some figures: 97% of their active borrowers are women and also their workforce is largely female with 89% women-employees. In addition, they actively work on gender in their governance and accountability policies.  

Kashf Foundation (Pakistan) is one of Asia's leading microfinance institutions focused on women's economic empowerment. As such the company demonstrates strong alignment with all 2X Criteria: it was founded by a woman, is led by a female CEO, has 60% women on its board, 43% women in senior management, and a workforce that is 50% women. Nearly all customers are women, with 77% of loans directly controlled by women, 14% jointly used with spouses, and only 9% used by male relatives. It goes without saying that advancing women's economic empowerment is central to KF's mission, supported by dedicated efforts to promote gender equality across all levels of its operations. 

Vivero Los Viñedos (Peru) is a leading table grape producer and exporter that creates quality employment opportunities in rural areas, where women often face barriers to formal work. Vivero los Vinedos is 2X eligible under the Entrepreneurship, Leadership and Employment dimensions. Founded by Mercedes Auris, who continues to play an active role in the business, the organization demonstrates a strong commitment to women's empowerment through its mission, policies and practices. Women represent 40% of senior management, 40% of the Board, and 45% of the workforce. The company also promotes inclusive employment, particularly for single mothers, and has implemented recruitment and health & safety practices that help address gender-related barriers and support fair treatment in the workplace.