What is the 2X Challenge?

  The 2X Challenge is a global initiative that invites DFIs (Development Financial Institutions), and MDBs (Multilateral Development Banks), to make investments that empower women economically, with specific criteria to qualify for the 2X designation.

The 2X Challenge platform supports members to easily submit deals, view the 2X Challenge deals, and more. It is a public good hosted on the Equilo website

DFIs (Development Financial Institutions), and MDBs (Multilateral Development Banks), interested on submit deals to qualify for the 2X challenge.

 

The 2X Challenge was launched at the G7 Summit 2018 as a commitment by DFIs to collectively mobilise UDS$3 Billion in private sector investments in developing country markets over three years. These investments provide women with improved access to leadership opportunities, quality employment, finance, enterprise support, and products and services that enhance economic participation and access. The original target was 3x overachieved, with the DFIs investing US$6.9 Billion. Including co-investments, the total capital mobilised reached US$11.4 Billion.

At the G7 Summit 2021, 20 global DFIs and MDBs committed to a new and more ambitious target of US$15 Billion for the period 2021-2022. This second round of the 2X Challenge has again exceeded its target and collectively raised gender lens investments totalling US$16.3 Billion, benefitting 473 businesses across all global emerging market regions. This brings the total investments under the 2X Challenge since 2018 to US$27.7 Billion.

The new target and 2X Challenge members will be officially announced at the G7 Summit in June 2024.

The 2X Criteria are a global baseline standard for gender finance. They are commonly adopted as a baseline/ minimum common denominator for investing with a gender lens across asset classes, markets and regions. Click here for more detailed information.

Alignment with the 2X Criteria can be achieved by meeting the Basic 2X ESG (including safeguarding) and minimum Governance & Accountability requirements, AND (a) have at least ONE of the six 2X Criteria met, and (b) provide a time-bound commitment to meeting an additional Criteria. Thresholds under each Criterion are country and sector specific.