Supported by a partnership
between Itaú and IFC, more than 23,000 women entrepreneurs have taken part
in the development journey proposed by the Itaú Mulher Empreendedora program
in the last five years.
São Paulo, November 21, 2019 – IFC, a
member of the World Bank Group, and Itaú Unibanco, one of the largest private
financial institutions in Brazil, have for the third time renewed their
partnership that provides strategic, technical and financial contributions
to the strengthening of the Itaú Mulher Empreendedora (or Women Entrepreneurs,
in a free translation) program.
The Itaú Mulher Empreendedora program is in line with the eight Positive
Impact Commitments assumed this year by Itaú, which involve several areas
and businesses at the bank. The program meets the bank's commitment to
Inclusion and Entrepreneurship, which aims to increase financial inclusion
for micro and small entrepreneurs through products and services and help
them improve the financial management of their businesses.
“We understand entrepreneurship can positively transform the society;
women, being half of our population, have a fundamental role in this transformation.
Our goal is to encourage women to take greater participation in business
and in the economy, supporting the growth and improvement of their businesses
as well as their relationship with the financial system,” says Luciana
Nicola, head of Institutional Relations, Sustainability and Inclusive Business
at Itaú Unibanco.
Since the launch of the Itaú Mulher Empreendedora program in 2014, IFC
has contributed with technical and financial resources, rolled out solutions
and surveys and monitored development indicators of the program. In this
period, more than 23,000 women entrepreneurs joined the program, having
access to online content, with business management articles covering topics
such as marketing, finance, sales, people management, trends and inspiring
stories, in addition to 85 activities such as workshops, lectures and acceleration
“Gender equality is at the center of Brazil's development agenda; increasing
access to finance for small and medium-sized businesses owned by women
is an important part of IFC's strategy to expand inclusion and economic
opportunities in the country,” says Rogério Santos, IFC’s head of
Financial Institutions for Brazil and the Southern Cone.
In 2013, IFC granted Itaú $1 billion in the first loan in Latin America
from its IFC Banking on Women program, which provides funding and expertise
to financial institutions to support women who own small and medium-sized
IFC's technical advisory for Itaú is supported by the Women Entrepreneurs
Opportunity Facility (WEOF), a partnership between IFC, through the IFC
Banking on Women program, and Goldman Sach's 10,000 Women Initiative. The
WEOF is an unprecedented program dedicated to expanding access to capital
for 100,000 women entrepreneurs worldwide. Since its launch in 2010, IFC
Banking on Women Program has committed to 81 investments worldwide worth
$ 2.45 billion and has advised more than 50 projects in 32 countries. Of
this total, the WEOF has put in more than $ 1.45 billion in commitments
to financial institutions in 33 countries.
About Itaú Mulher Empreendedora
Itaú Mulher Empreendedora supports women through training, inspiration
and connections. Today, the program has participants from five regions
of the country and offers free videos, articles and tools on its website
dedicated to various topics, such as management, finance, marketing, innovation
and news, as well as inspiring stories that reveal the motivations, the
challenges and best practices for women at the head of their businesses.
The bank also runs exclusive activities for clients, such as workshops,
lectures and an acceleration program. Please go to: www.imulherempreendedora.com.br
About Positive Impact Commitments
In September, Itaú Unibanco strengthened its sustainability stance by publicly
assuming eight Positive Impact Commitments, with 41 goals and indicators
aligned with business challenges and the UN's Sustainable Development Goals.
For more information about the Commitments, please go to: https://www.itau.com.br/sustentabilidade/compromissos/
About Itaú Unibanco
Itaú Unibanco is the largest private financial institution in Brazil and
one of the largest in the world, with assets of more than R$ 1.6 trillion
in June 2019.With approximately 98,400 employees, it has approximately
4,700 branches in Brazil and a significant presence in Latin America, as
well as being present in the United States, Europe, Asia and the Middle
East. Through a segmented business strategy, Itaú Unibanco operates prominently
in Brazil and abroad, participating in every area of economic activity.
It enjoys leadership in several segments of the sector, being recognized
for its history, financial strength and performance. It went public in
1944 and is listed on the B3 exchange in Brazil and the New York Stock
Exchange, with a market capitalization of R$ 260.6 billion on June 30,
IFC—a sister organization of the World Bank and member of the World Bank
Group—is the largest global development institution focused on the private
sector in emerging markets. We work with more than 2,000 businesses worldwide,
using our capital, expertise, and influence to create markets and opportunities
where they are needed most. In fiscal year 2019, we delivered more than
$19 billion in long-term financing for developing countries, leveraging
the power of the private sector to end extreme poverty and boost shared
prosperity. For more information, visit www.ifc.org.