BII raises gender investment target to 30%

British International Investment (BII), the UK’s development finance institution and impact investor, has reaffirmed its commitment to advancing women’s economic empowerment across Africa, joining development and multilateral finance institutions at the 2X Global Summit in Montréal to renew their commitment to the 2X Challenge.

In a joint Statement of Intent published recently, the institutions highlight that the world remains far off track to achieve gender equality.

New UN data shows that 351 million women and girls could still be living in extreme poverty by 2030, underscoring the urgency of accelerating investment in women’s economic empowerment. Closing these gaps will require an additional $360bn a year but could raise global GDP by more than 20 per cent. Since its launch in 2018, the 2X Challenge has mobilised more than $33bn towards investments that advance women’s economic empowerment. The renewed 2024–27 2X Challenge aims to mobilise at least $20 billion, with a greater focus on bringing private investors into the effort.

As momentum behind gender-lens investing continues to grow, the value of dedicated gender-lens funds have increased from $1.3bn in 2017 to $7.9bn, demonstrating both the scale of investor interest and the opportunity to channel more capital towards women-focused investments.

BII’s new 2026–31 strategy raises its own ambition, targeting 30 per cent of new investments in its core portfolio to qualify under the 2X Challenge. The approach focuses on expanding women’s financial and digital inclusion, supporting quality jobs for women, and increasing women’s participation in climate and low-carbon industries. Since 2018, BII has committed more than $3.5bn in 2X-qualified investments. It has also directed more than $586m in lending to women-led businesses, while annual gender finance commitments increased from £24m in 2019 to more than £585m in 2025, reflecting BII’s growing commitment to advancing women’s economic empowerment through investment. At the Summit, BII launched a refreshed Gender and Inclusive Finance Toolkit, a practical resource designed to help fund managers, investors and businesses embed gender lens across the investment lifecycle.

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The project is now operational, providing 540 megawatts of solar power alongside battery storage. BII also invested $5m in Aruwa Capital Fund II, a pioneering female-led private equity firm, helping the fund reach $35m  towards its target.

Managing Director and Head of Climate, Diversity and Advisory, British International Investment, Amal-Lee Amin,  said: “Gender-lens investing has never been more critical for advancing inclusive economic growth. As the global environment becomes more complex and progress on gender equality slows, we must reaffirm our commitment to advancing women’s economic empowerment through investment. “Our refreshed Toolkit brings together the tools, evidence and practical examples investors need to move from ambition to action. We also know that progress takes time, so our approach is focused on learning, working with investees and bringing more investors with us.”