The Calvert Foundation has announced the launch of the Women INvesting in Women INitiative (WIN-WIN), which will invest at least $20 million in high-impact organizations and projects worldwide that create opportunities for women lacking access to traditional credit and funding sources.
Women represent nearly half the nation's top wealth holders and control some $20 trillion in spending globally. WIN-WIN will work to leverage that capital and mobilize women investors as lead providers of capital to the fund. A lead grant of $1 million from the Citi Foundation will enable Calvert to deploy funds to microfinance institutions and community development financial institutions that are investing in women-focused small businesses and critical services that affect low-income women and their families.
"Investment in the ingenuity and ambition of women is critical if we hope to have any success as a more equitable global society," said Citigroup CEO Vikram Pandit. "Expanding financial inclusion and fostering innovation are both central to Citi's mission, and the WIN-WIN program embodies both of these core commitments. The Citi Foundation's support of this cutting-edge Calvert Foundation initiative will provide critical financing with the power to advance economic opportunity for underserved women around the world. "