OeEB contributes to GGSF Technical Assistance Facility

The Global Gender-Smart Fund (GGSF) was created out of the Microfinance Enhancement Facility (MEF), which was founded in 2009 and provided liquidity to the microfinance sector in developing countries. Based on MEF's 15-year experience, the fund was transformed into the GGSF with a gender-focused strategy as well as a new structure. As one of the founding investors of MEF, OeEB promoted the transition of the fund and contributed to structuring and shaping its new focus on gender equality.

In order to support the fund's new mission, a technical assistance facility has been set up. The facility aims to foster engagements with partner financial institutions on critical areas of improvement that are identified during due diligence, thus supporting financial institutions in designing and implementing a concrete gender-smart action plan. The technical assistance is provided through a streamlined process by a global consortium formed by NIRAS A/S and Women's World Banking, both gender specialists with extensive experience in the implementation of projects supporting gender equality.

Alongside a USD 30 million investment into the Global Gender-Smart Fund, OeEB now signed a EUR 200.000 contribution from its own funds to the GGSF Technical Assistance Facility. "As one of the initial shareholders, we are proud to have been part of MEF's transition into the world’s largest gender investment fund. Gender Equality is one of the strategic priorities of OeEB and we aim to increase our gender smart portfolio. Our contribution to the TA Facility complements our engagement in the GGSF and ensures the impact of our investments through tailored technical assistance", said Sabine Gaber, Member of the Executive Board of OeEB.