Portfolio Partner Profile

Global Gender-Smart Fund

The Global Gender-Smart Fund (GGSF) is an evergreen global microfinance fund advancing women’s financial inclusion in developing markets. The GGSF provides loans to financial institutions including microfinance institutions, banks, leasing companies, and other non-bank financial intermediaries in developing countries that support women and women-led enterprises. Through gender-smart financial services and technical support, the fund promotes livelihoods, gender equality, and women's leadership. GGSF was initially launched as the Microfinance Enhancement Facility in 2009 and became GGSF in 2024.

Featured Impact Story

Global Gender-Smart Fund impact story image

Impact Story

Esta Dana Ventura improving financial inclusion in Indonesia through women-focused microfinancing

Esta Dana Ventura obtained a loan from GGSF to bolster its microloan portfolio, particularly to finance and empower Indonesian women, who account for 95% of its borrowers. This funding enabled the expansion of the institution’s network into remote regions of Indonesia, such as Ternate and North Maluku, increasing the number of female borrowers to more than 250,000. Esta Dana Ventura's network has grown from 48 branches in 2017 to 217 branches across Indonesia by 2023.

The GGSF funding also supported the institution’s liquidity, enabling it to provide financial assistance to clients while investing in and continuously upgrading their technology, establishing itself as one of the most digitally advanced microfinance institutions in Indonesia. Beyond financial stability, the loans provided by Esta Dana Ventura to its end borrowers instil a renewed sense of hope and confidence in clients, empowering them to overcome challenges, develop their businesses, create new job opportunities, stimulate local economies, and contribute to the overall vitality of the business ecosystem.

For example, AkuEsta is a project where women are trained to create handcrafted bags, with the necessary materials financed until the products are sold. This project predominantly supports women, with 95% of its loans directed to female entrepreneurs. Furthermore, 76% of its workforce consists of women, emphasizing its commitment to empowering women through both financial support and employment opportunities.

Impact Story

Expanding Financial Inclusion for Women Entrepreneurs

Mikrofin, a leading microfinance institution in Bosnia and Herzegovina, has long supported female entrepreneurs, who traditionally make up 40% of its clients. To expand its outreach, Mikrofin secured a 10 million EUR GGSF loan, to boost liquidity and increase financing for women-led businesses. With this funding, Mikrofin can dedicate more resources to female clients, enhancing both the number of loans and the overall portfolio dedicated to women entrepreneurs. Unlike other lending sources, GGSF funding is specifically tailored for gender-focused financial inclusion, making it a strategic funding choice for Mikrofin.

Recognising that many women entrepreneurs—especially those running small informal businesses—lack financial literacy and business knowledge. The Women Entrepreneurship Academy equips female entrepreneurs with essential skills like financial literacy and marketing, helping them scale and formalize their businesses. The long-term goal is to create a hub where entrepreneurs can come and take the necessary knowledge and capital to start a formal business. Such initiative forms the theme of the Gender Action Plan the partner financial institution holds with GGSF.

Impact Story

Cultivating financing relationships and crops in Nicaragua

Fondo de Desarrollo Local (FDL) is one of the largest microfinance institutions in Nicaragua and has a strong gender impact, serving over 23,000 female clients, which constitutes 51% of its borrowers. With 77% of its portfolio concentrated in rural areas and 28% in the agricultural sector, FDL addresses the needs of the base of the pyramid, a demographic that makes up 70% of Nicaragua’s population.

One of its beneficiaries is Marlene Orozco Cantero, a resident of the Ocote Tuma community in Waslala and a farmer involved in livestock, milk production, poultry, pig raising, and cultivating corn and beans. Marlene has been a client of FDL for over 16 years, receiving about nine loans that she has used to improve her home, buy land, and invest in her farm. She speaks highly of the strong partnership with FDL, valuing their attentive service and emphasising how mutual trust and her commitment to timely payments have enabled continued access to future loans.

FDL is dedicated to reducing gender disparities and promoting diversity, equity, and inclusion, well aligned with GGSF’s mission and vision. The GGSF funding is a meaningful infusion of capital that will make a significant difference for FDL and its clients. The loan supports FDL’s strategic plan for growth and its commitment to serving women and rural clients and addressing climate change impacts. The loan further aids in developing FDL’s management information system for new digital banking services, ensuring stable and effective client services. Additionally, it enables FDL to offer competitive products, improve portfolio quality, and manage delinquencies effectively, creating better lending conditions for clients. The institution’s commitment to gender equality is further reflected with 46% of women in senior management surpassing industry standards in Nicaragua in 2024.

Impact Story

MDO IMON

MDO IMON International began operations in 1999 as a project of the National Association of Business Women of Tajikistan, supported by Mercy Corps and funded by USAID. Today, it is the largest deposit-taking microfinance institution in Tajikistan, serving over 135,000 clients (40% women), mainly in rural areas and operates through 116 branches. The partnership with GGSF, launched in June 2025, provided a $2.5 million loan to support gender-related initiatives including adopting a standalone Prevention of Sexual Harassment policy, increasing staff satisfaction and reducing turnover, ensuring gender balance in talent development programs, and delivering strategic training for senior management to better integrate gender considerations into operations, human resources, and leadership. The loan has also been instrumental in supporting IMON’s funding requirements during a period of robust loan portfolio growth.

IMON’s commitment to diversity and inclusion stems from its founding mission. IMON provides free agricultural consulting and training to Micro and SME clients. Internally, it promotes equal opportunities through the “Talent and Successor School” program and fair hiring practices. It also enforces a zero-tolerance policy on harassment, which is integrated into their Human Resources policy.

The information presented is provided by our portfolio partners for general informational purposes only. We have not independently verified for accuracy or completeness. The testimonials presented reflect the personal experiences and opinions of portfolio partners and their investees, and do not guarantee the same results for others.

Return to Portfolio:

Community Investment Note Portfolio

Sectors and Topics:

Microfinance Microfinance
Small Business Small Business
Gender Equity Gender Equity

Region(s):

Central America & Caribbean, Central Asia, East Asia & Pacific, Eastern Europe, Middle East & North Africa, South Asia, Sub-Saharan Africa

Countries:

India, Mongolia, Ecuador, Uzbekistan, China, Georgia, Nicaragua, Kosovo, Bosnia, Herzegovina

US States:

NA

First Year of Investment:

2025

Website:

https://ggs-fund.com/

Social Media:

LinkedIn Page

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