WEOF Unlocks $3.17B for Women Entrepreneurs in 59 Countries Over a Decade

What began as an ambitious idea in 2014 has become a transformative global movement. The Women Entrepreneurs Opportunity Facility (WEOF)—a pioneering partnership between Goldman Sachs 10,000 Women and the International Finance Corporation (IFC), part of the World Bank Group—has concluded its 10-year mission with remarkable achievements: supporting more than 267,000 women entrepreneurs across 59 countries and unlocking $3.17 billion in investments.

Originally designed to break down barriers to finance for women-owned small and medium enterprises (WSMEs) in emerging markets, WEOF has far surpassed its initial goals, proving that financing women-owned businesses at scale is not only possible, but also highly impactful for economic growth, job creation, and community development.

From Bold Vision to Global Impact

When WEOF was launched in 2014, its initial target was to reach 100,000 women entrepreneurs. A decade later, it more than doubled that figure, providing capital, knowledge, and tools to women-led businesses in every region of the world.

Through partnerships with 107 financial institutions, the facility not only channelled loans and credit lines but also introduced advisory services, capacity-building programs, and innovative financial products tailored to women’s needs.

“We pioneered an approach that’s never been done before and proved what’s possible when we invest in women,” said Asahi Pompey, Global Head of Corporate Engagement at Goldman Sachs and President of the Goldman Sachs Foundation. “Ten years of data shows that when you invest in women, they deliver strong returns, fuel growth, and transform their communities.”

Key Achievements of WEOF

• 267,000 women entrepreneurs financed through IFC partner financial institutions.

• $3.17 billion unlocked in investments, including $965 million mobilised from external lenders.

• $8.2 billion in cumulative loans extended to women-owned businesses, with a 57% growth in WSME lending portfolios.

• Pioneering instruments such as the first gender bond in emerging markets’ trade finance and the launch of a women entrepreneur debt fund.

These milestones reflect how tailored financing mechanisms can help women entrepreneurs overcome systemic barriers, grow their businesses, and contribute to economic transformation.

Stories of Transformation

The numbers are compelling, but the human stories are even more powerful.

• In Burkina Faso, entrepreneur Mamounata Velegda expanded her seeds and grain processing factory, creating over 300 jobs in her community.

• In Mongolia, Munkhtsetseg Jadambaa launched a bathtub manufacturing company that now employs 24 people and supplies half of the country’s residential housing market.

Such examples demonstrate how access to finance translates into real-world opportunities, enabling women not just to grow their businesses but to uplift entire communities.

Lessons for Closing the Gender Finance Gap

Over its decade-long journey, WEOF has highlighted several strategies critical to expanding women’s access to finance:

• Flexible, tailored products that reflect the realities of women-owned SMEs.

• Blended finance models combining concessional and commercial funds.

• Risk-sharing mechanisms that encourage financial institutions to lend more.

• Performance-based incentives to drive growth in WSME lending portfolios.

• Data-driven approaches using sex-disaggregated data to better understand and serve women entrepreneurs.

These lessons have been shared globally and are now informing the next generation of gender-focused financing initiatives.

Looking Ahead: A Call to Action

Despite WEOF’s extraordinary achievements, the global gender financing gap remains vast. More than 700 million women worldwide still lack access to financial accounts, limiting their ability to start or grow businesses.

“WEOF has shown that financing women-owned businesses at scale is not only possible but also profitable. By breaking down barriers, we’ve laid the foundation to create more jobs and support economic growth,” said Mohamed Gouled, IFC’s Vice President of Industries.

As WEOF concludes its mission, IFC and Goldman Sachs are calling on the global community—governments, investors, financial institutions, and development partners—to build on this momentum and continue investing in women entrepreneurs.

A Decade of Proof, A Future of Possibility

What started as a bold experiment has now become proof of concept: when women are given access to finance, they deliver outsized returns for themselves, their families, and their countries. The challenge ahead lies in scaling this impact even further to ensure that women everywhere can participate fully in the global economy.