The Ministry of Finance of Luxembourg is proud to announce its multi-year support to 2X Global, a global non-for profit membership and field building organization dedicated to unlocking gender-smart capital at scale. Over a four year period, this €1 million catalytic support will further enable 2X Global in its efforts to empower women entrepreneurs and gender-smart businesses, and increase their access to capital and financial services, in particular through its 2X Challenge, 2X Ignite, and a new 2X Certification mechanism.
Gender finance is an essential part of sustainable economic growth, and the Ministry of Finance recognizes the importance of supporting organizations that work towards this goal. The Luxembourg Ministry of Finance is a key partner of 2X Global and is looking at strategic initiatives such as 2X Global to create more awareness, integration, and adoption of gender-lens investing in the local and international financial center. For example, their support of 2X Certification, alongside other partners, will enable 2X Global to create more transparency, accountability and credibility in the global field of gender finance, further unlocking gender-smart capital at scale. Their work creates more opportunities for economic prosperity but also addresses gender inequalities and promotes social development.
Minister Yuriko Backes said: "We are delighted to support 2X Global's important work in promoting gender finance initiatives. Women-led businesses have the potential to drive economic growth and create more inclusive societies, and we are committed to supporting their success. This support reflects our strong belief in the power of gender finance to make a positive impact on women's lives on our societies and economies."
2X Global is building on the achievements of the 2X Challenge which since its launch at the G7 Summit 2018 has raised over USD 11 Billion of gender lens investments under the 2X Criteria. Now spanning over 90 member institutions across the continuum of capital globally, 2X Global's vision is one of sustainability and equal opportunity, powered by inclusive, equitable, and gender-smart systems of finance. Jessica Espinoza, CEO of 2X Global, said: "We are grateful for the generous contribution from the Ministry of Finance of Luxembourg. With their support, we can continue to increase access to capital and financial services for women entrepreneurs and gender-smart businesses, and advance our mission of promoting gender finance initiatives worldwide. Together, we can build a more equitable and sustainable future."
About 2X Global
2X Global is a global membership and field-building organisation for investors, capital providers, and intermediaries working in public and private markets, across both developed and emerging economies. By working together with the full spectrum of investors, capital providers, mobilisers, and influencers, we will help shape the market on a whole new level, ultimately transforming systems of finance through the gender-smart deployment of capital across asset classes and markets.
2X Global is the new name for two former leaders in the field: GenderSmart and 2X Collaborative, whose respective field building and membership clout have helped to catalyse billions of gender-smart investing dollars since 2018.
Press release by the Ministry of Finance