17.3) Mobilize additional financial resources for developing countries from multiple sources
Blended finance investment solutions capitalize on partnerships among diverse actors, including international organizations, development co-operation agencies and private enterprise. An example of such a partnership is the Women Entrepreneurs Opportunity Facility, launched in March 2014 by the International Finance Corporation and Goldman Sachs 10,000 Women. This is the first of its kind global facility dedicated to expanding access to capital for women-owned small and medium enterprises. Through the facility, the International Finance Corporation aims to invest up to USD 600 million in financial institutions that are committed to expanding their financial services to small and medium enterprises owned by women in emerging markets. It also aims to signal the relevance of this asset class to the broader investor market. The funding for the facility also includes USD 50 million of blended finance from Goldman Sachs’ 10,000 Women to create performance incentives for financial institutions to boost their lending to this segment, and to support capacity building among financial institutions and women borrowers.