Luxembourg Finance Ministry to Contribute €1m in Multi-Year Support to 2X Global

Luxembourg's Ministry of Finance has announced its multi-year support to 2X Global, a global non-for profit membership and field building organisation dedicated to unlocking gender-smart capital at scale.

Over a four year period, this €1 million catalytic support aims to 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.

Luxembourg's 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 centre.

Luxembourg's Minister of Finance, Yuriko Backes, commented: "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 $11 billion of gender lens investments under the 2X Criteria.

2X Global now spans over 90 member institutions across the continuum of capital globally.

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."