Expanding financial access for women entrepreneurs

Madagascar has become one of 26 global pilot countries and one of the first 9 African nations to receive support from the WE Finance Code program.

Launched during the World Bank and International Monetary Fund (IMF) Annual Meetings in October 2023, this initiative aims to enhance financial access for women entrepreneurs, particularly by easing their access to credit and promoting their role in socio-economic development.

The WE Finance Code is a collaborative platform that brings together public and private actors to empower women through concrete projects. According to a 2024 study, 61 % of loan applications come from women entrepreneurs, yet many face obstacles in securing the necessary financial support. Rindra Hasimbelo Rabarinirinarison, Madagascar’s Minister of Economy and Finance, reaffirmed the importance of supporting female entrepreneurship to stimulate economic growth.

During the official presentation at the World Bank headquarters, she called for a collective effort to address challenges, particularly in financial education and credit access. The implementation of the WE Finance Code is expected to have significant impacts on gender equality, increased private investment, and the creation of higher-quality jobs.

International partners such as the French Development Agency (AFD) and the International Finance Corporation (IFC) are backing the WE Finance Code initiative.