Women Entrepreneurs Finance Initiative (We-Fi): 7th Call for WE Finance Code Scale-Up

Status of the We-Fi 7th Call

The published seventh We-Fi call is closed. The official Women Entrepreneurs Finance Initiative announcement states that final proposals had to reach the We-Fi Secretariat by 23:59 EDT on July 29, 2026. The page is being kept as a historical reference because the deadline has passed and the official site does not publish a later call or a new application deadline on the source page checked for this update. Do not treat this listing as an open grant window, and do not send a late proposal unless the We-Fi Secretariat gives you written instructions.

This is an institutional funding opportunity, not a direct small-business grant. We-Fi works through accredited multilateral development bank (MDB) implementing partners. A woman-owned company, local nonprofit, accelerator, business association, or government ministry could participate in a funded project as a partner or beneficiary, but those organizations could not submit a seventh-call proposal directly under the published rules.

At a glance

The USD 20 million figure is the amount the official announcement made available for the call, not a guaranteed award for every applicant. The published minimum is a funding-request threshold, not a promise that each proposal will receive USD 2.5 million. The announcement also says that an independent Technical Expert Panel reviews eligible proposals and that the limited funds mean deserving proposals are not automatically funded.

What the seventh call was designed to fund

The seventh call centered on the WE Finance Code Scale-up Strategy. The Code is a country-led, multi-stakeholder approach to closing the financing gap for women-owned and women-led micro, small, and medium-sized businesses. It brings financial institutions, central banks, policymakers, development banks, and other ecosystem partners into national coalitions. The call focused on expanding the Code into new countries and deepening its effect in countries where it already operates.

The official announcement describes three main areas of activity:

1. Leadership. Projects could strengthen leadership and coordination inside national coalitions. A credible coalition needs a named coordinator, participating financial-sector institutions, public-sector support, and a practical method for turning commitments into work. A proposal therefore needed to explain who would convene the coalition, how decisions would be made, and how participating organizations would remain accountable.

2. Data and insights. Projects could improve the quality and use of information about women-owned and women-led businesses. Useful work might include better sex-disaggregated portfolio data, common definitions, reporting processes, market studies, or analysis that helps financial institutions understand the segment. A strong proposal would connect the data activity to a decision: product design, risk assessment, outreach, policy reform, or public reporting.

3. Action to expand capital. Projects could support concrete steps that increase access to finance for women-owned and women-led SMEs. Depending on the approved design, this could involve financial-sector commitments, new or adapted products, partnerships, technical support, or other measures that move from a public pledge to actual financing. The call was about systems change, so an application had to explain how activities would affect institutions and clients beyond a small pilot group.

The broader We-Fi model also connects finance with skills, networks, markets, and the business environment. The seventh call announcement says We-Fi works with implementing partners to provide access to debt, equity, venture capital, insurance products, capacity building, networks and mentors, and domestic and international market links. It also supports governments seeking to improve conditions for women-owned and women-led SMEs. Those tools are relevant context, but a seventh-call proposal needed to stay tied to the Code scale-up theme rather than presenting an unrelated women’s entrepreneurship project.

Who was eligible to apply

The official list of eligible implementing partners for the seventh call named the following accredited MDBs:

• African Development Bank
• Asian Development Bank
• European Bank for Reconstruction and Development
• Inter-American Development Bank Group, including IDB and IDB Invest
• Islamic Development Bank Group
• World Bank Group, including the World Bank and International Finance Corporation

The applicant had to be an eligible implementing partner. The published call did not open a general application route for individual entrepreneurs, ordinary companies, nonprofits, universities, local business groups, or unaffiliated consultants. Those organizations could still have a useful role in a consortium or national coalition, but their route was to work with an eligible MDB and be included in its proposal or implementation plan.

The country rule was also specific. We-Fi could finance programs or projects in territories that are eligible for Official Development Assistance and eligible to receive financing from the International Bank for Reconstruction and Development or the International Development Association, including through World Bank-administered trust funds. “Global” in the listing therefore does not mean every country is eligible. An applicant had to check the official eligibility list and show how each proposed country met the rule.

The call also set a strategic preference for activities in low-income countries, IDA countries, fragile and conflict-affected countries or territories, and underserved women entrepreneurs in middle-income countries, including forcibly displaced communities. This was a funding principle for proposal review, not a substitute for the formal country test.

Funding and proposal fit

The minimum request was USD 2.5 million per proposal. Applicants needed to show why that scale of funding was appropriate and how We-Fi money would complement other resources. The announcement asks proposals to demonstrate the ability to address direct or systemic challenges faced by women-owned and women-led SMEs, catalyze co-funding from other sources, focus on underserved contexts, and produce transformational or scalable impact through mobilization and strategic partnerships.

That means an eligible MDB would need more than a list of workshops. A credible proposal would connect a clearly described financing barrier to an institutional response, name the partners responsible for delivery, and define results that can be checked. For example, a project might combine coalition leadership, a shared data plan, and commitments from financial-service providers to improve products or financing for women-led businesses. The important point is the chain from activity to institutional change to better capital access.

Applicants should also separate the We-Fi request from the total project budget. The published minimum applies to the funding request, while the proposal should explain co-funding, partner contributions, and any other financing that makes the work viable. Claims about expected reach, mobilized capital, or country coverage should be supported by a results framework and by the applicant’s implementation capacity.

Application process for the closed round

The seventh-call instructions required applicants to complete every section of the official 7th Call Proposal Template and Guidance Note. The proposal could be no longer than 10 pages, excluding annexes. It had to be written in English, and all funding amounts and costs had to be shown in U.S. dollars. No organization could submit more than one proposal.

The submission sequence was:

1. Confirm that the applicant is one of the accredited implementing-partner MDBs and that the proposed countries meet both the ODA and IBRD/IDA eligibility requirements.
2. Select a project that directly supports the WE Finance Code Scale-up Strategy, covering the relevant leadership, data, and action elements.
3. Complete all sections of the official template and guidance note, keeping the main proposal within the 10-page limit and adding only useful annexes.
4. Present the budget and all costs in U.S. dollars, identify the requested We-Fi amount, and explain co-funding and partner roles.
5. Obtain the applicant’s internal management clearances under its own policies and procedures before submission.
6. Convert the final proposal to PDF and email it to We-Fi Secretariat Head Wendy Teleki, copying Michael Ehst, Zahra Rao, and [email protected] at the addresses listed in the official announcement.
7. Meet the published cutoff of 23:59 EDT on July 29, 2026, then wait for review by the independent Technical Expert Panel and the allocation decision of the We-Fi Governing Committee.

Those steps describe the closed seventh call. They are useful for understanding the round and preparing for a possible future announcement, but they should not be read as evidence that submissions remain open. A future call could change its theme, page limit, contact route, eligibility list, or deadline; applicants must use the new official announcement if We-Fi publishes one.

What entrepreneurs and local partners can do now

Although direct applications were not accepted, women’s business organizations and financial-sector partners could prepare for a future MDB-led proposal. Gather evidence about the financing barriers faced by women-owned and women-led SMEs in the target market. Document whether the obstacle is collateral, pricing, business records, product design, lack of data, market access, or a policy constraint. Bring examples from real firms and distinguish the needs of microenterprises from those of established SMEs.

A potential partner should also define a concrete role. A financial institution might commit to improved reporting and a product change. A business network might recruit firms, test service design, or provide feedback on whether a product is usable. A ministry or regulator might coordinate policy and data work. A technology or market-access partner might support delivery. These commitments are more useful than a long list of names with no responsibilities.

Finally, monitor the official We-Fi website and contact the Secretariat for confirmation before relying on a future deadline. This page records the seventh call’s real terms and its closed status; it is not a substitute for a new call announcement.