News Story
F4D Helps Advance Women’s Financial Inclusion in Mexico
With support from F4D, Mexico is taking decisive steps toward a more inclusive and resilient financial system, unlocking the economic potential of millions of women.
Gender equality is not only a social goal, but also an economic imperative
In Mexico, women own 34% of small and medium-sized businesses, and of these, more than 85% report that they do not have access to the financing necessary to grow.
On February 4, 2024, the World Bank Group, Mexico's Ministry of Finance and Public Credit, Finance for Development, and the Interinstitutional Committee for Gender Equality in Financial Institutions (CIIGEF) officially launched the guide “Expanding Women’s Financial Inclusion in Mexico” (in Spanish). This pioneering document, developed jointly by the World Bank, IFC, and CGAP and with support from F4D, aims to serve as a model for other countries and regions, contributing to the global dialogue on financial inclusion from a gender perspective.
This initiative aims to integrate a gender perspective within financial institutions. The guidelines are designed to steer the country's financial institutions towards the deliberate inclusion of women through specific actions to adapt their product offerings and implement necessary organizational and cultural levels changes. These measures are intended to secure the long-term sustainability of a gender-focused business strategy. The guide also includes tools for monitoring and evaluating work done under the guidelines.
Launch Event and Key Takeaways
The launch event brought together high-level policymakers, financial sector leaders, and international experts, to launch the new Guidelines and discuss:
The business case for financial inclusion —How integrating more women into the financial system benefits both institutions and the economy.
Breaking social barriers — Tackling gender norms that limit women’s financial autonomy.
The power of data — Using sex-disaggregated data to design better financial products and policies.
Participants emphasized that closing the gender gap requires a joint effort between the public and private sectors:
The public sector plays a key role in driving reforms, ensuring more women are included in the financial system, and collecting data to measure progress.
The private sector must recognize the value of women as customers, develop gender-responsive financial products, and promote financial education with a gender perspective.
However, access alone is not enough — it is equally crucial to foster the active and sustained use of financial services, ensuring they meet women’s needs and create real value in their daily and productive activities.
Watch the Video
Expanding Financial Inclusion
for Women in Mexico
A Win-Win Scenario
— Jean Pesme, Global Director of Finance, Competitiveness and Investment Department,
highlighted during the event.
The untapped financial market for women in Mexico offers a remarkable revenue opportunity of USD 1.87 billion for the financial sector, according to the Inter-American Development Bank (IDB).
Women demonstrate a remarkable loyalty to financial institutions that create products specifically designed for their needs. Moreover, they typically present a lower credit risk, positioning women's financial inclusion as not just beneficial but a compelling competitive advantage for institutions.
Embracing this opportunity fosters financial empowerment and strengthens the overall industry landscape.
— Mark Thomas, Country Director at the World Bank for Mexico
Read our Impact story for more information on the World Bank’s financial sector work in Mexico.
