2X Challenge
Summary
The 2X Challenge is a commitment to deploy $3B by the end of 2020 for investment in business activities that will benefit women launched by a consortium of seven DFIs from the United States, Canada, the United Kingdom, France, Germany, Italy, and Japan.
Goal
Deploy and mobilise US $3B by 2020
Lead Organisation
FinDev Canada, CDC Group, and DFC
Key Partners
FinDev Canada, CDC Group, DFC, Proparco, JICA, JBIC, CDP, DEG, FMO, IFU, FinnFund, Swedfund, SIFEM, BIO, EIB
Impact Regions
Emerging Markets
Start Date
2018
End Date
December 2020
Milestones and Progress
“While 2020 may be the final year of the initial 2X commitment, in many ways it is also just the beginning. The 2X Challenge is now a movement which has inspired other investors to put more money in the hands of women”
November 2018 (Global GenderSmart Investing Summit)
Website with criteria launched
June 2019 (Women Deliver)
Four new DFIs added to the original group of seven (FMO, IFU, Finnfund, Swedfund)
Launch of 2X Challenge Invest2Impact Business Competition for women entrepreneurs in East Africa
$2.5BN of the goal reached (count every 6 months)
October 2019
SIFEM joins the 2X Challenge and EIB becomes the first multilateral development bank (MDB) to endorse 2X Criteria.
November 2019
Invest2Impact celebrates its first 100 winners in Kigali, Rwanda
BIO joins the 2X Challenge
March 2020
April 2020
2X Challenge COVID-19 Note released
Count update - check back in
May 2020
Count update: $4.1B committed and mobilised by the G7 founding members, effectively surpassing the original $3B target. Together, all 2X members committed and mobilised $4.5B towards 2X-eligible investments between June 2018 and December 2019.