Cambodia is one of the countries that benefits from Asia-based Impact Investment Exchange (IIX)’s Women’s Livelihood Bond Series as they recently won the P4G Scale-Up Partnership to scale a first-of-its-kind innovative finance solution for gender-equal COVID-resilience and green growth across Asia.
According to a press release on Tuesday, the WLB Series has won Partnering for Green Growth (P4G) and the Global Goals 2030 scale-up partnership due to its innovative approach to unlocking private capital for sustainable development. The WLB Series will help bring together multi-sector ecosystem partners to mobilise large-scale private investment to drive women’s economic empowerment across multiple Sustainable Development Goals (SDGs).
The press release said the WLB2 is empowering more than 68,000 female micro-entrepreneurs in Indonesia and Cambodia, with increased income amounting to $20.4 million. It added this enables over 14,000 women farmers to earn more than $3.8 million due to fair pricing and improved access to markets.
Durreen Shahnaz, IIX CEO and Founder, said: “Together with P4G and our larger network of partners, we’re changing the narrative about underserved communities, and especially underserved women by positioning them as solution-builders rather than victims. We’re now taking that model and showing investors how a COVID-resilient future can be built with women and the environment front and centre, while also generating financial returns during the toughest of times.”
Currently, many international partners, including USAID are working with IIX to help empower women, including women in Cambodia.
The WLB Series has now come to the third phase (WLB3). The entire series will benefit at least three million women across Asia.