The International Finance Corporation (IFC) and the Women Entrepreneurs Finance Initiative (We-Fi) are joining hands to close the gender financing gap. The two partners launched this Thursday, January 13, 2022, a new call for applications for IFC ScaleX. A performance-based initiative that will provide a prize of up to $25,000 to business accelerators.

IFC ScaleX will help promote more gender-responsive acceleration and investment in emerging markets, which is critical to creating more high-growth, resilient women-led businesses. Thus, the initiative called IFC ScaleX aims to reward business accelerators that have helped women-led businesses in emerging markets to raise equity. IFC ScaleX seeks to engage accelerators to actively help women unlock funding opportunities, catalyzing a total of $40 million in women-led startups over the next two years. Recall that the Women Entrepreneurs Finance Initiative (We-Fi) is a revolutionary partnership that aims to unlock financing for women-led and owned businesses (WSME) in developing countries.