WE Finance Code Colombia: Data and Partnerships to Expand Financing for Women-Led Businesses
Financial sector stakeholders across Colombia are joining forces to expand women entrepreneurs’ access to credit through data, collaboration, and financial solutions tailored to their needs.
In Colombia, women entrepreneurs lead 42% of businesses, most of them micro, small, and medium-sized enterprises (MSMEs). As businesses grow, so do their financing needs. In 2024, 62% of women business owners had access to credit products, highlighting the opportunity to strengthen financing solutions that support their business and investment plans.
To unlock this opportunity, IDB Invest, with support from the Women Entrepreneurs Finance Initiative (We-Fi), launched the WE Finance Code Colombia initiative in partnership with Banca de las Oportunidades, Colombia’s Financial Superintendence, Asobancaria, Asomicrofinanzas, Colombia Fintech, TransUnion, and 23 financial institutions. The initiative promotes the development of a stronger financial offering for a business segment with significant growth potential by focusing on data, partnerships, and concrete commitments.
A High-Potential Economic Opportunity
WE Finance Code Colombia brings together financial institutions committed to identifying and measuring the potential of women-led MSMEs. The initiative supports the use of disaggregated data, building technical capacity, and developing practical solutions that can sustainably expand access to finance.
A Data-Driven, Action-Oriented Approach
WE Finance Code places a strong emphasis on using data to support informed decision-making. This approach enables financial institutions to better understand the needs of women-led businesses and design products that are more relevant, effective, and scalable.
The initiative also supports capacity building among participating institutions, encouraging the adoption of practices that can systematically expand the supply of financing for women entrepreneurs.
A Collective Effort to Scale Impact
The success of WE Finance Code Colombia lies in its ecosystem-wide approach. Key stakeholders, including Colombia’s Financial Superintendence, Banca de las Oportunidades, and industry associations, are contributing their expertise, knowledge, and commitment to expand access to financing across the country.
The initiative launches with the participation of the following banks, microfinance institutions, and fintech companies: Bancolombia, Bancamía, Banco Agrario, Davivienda, BBVA, Banco Contactar, Banco Mundo Mujer, Banco de Occidente, Banco de Bogotá, Fundación Alcaraván, Fundación Amanecer, Crezcamos, Uni2, Fundación Coomeva, Microempresas de Colombia, Quipu, Seos Energy, CFA, Monet, FGA Fondo de Garantías, Kredit Plus, Sempli, and Mibanco, in partnership with Fundación WWB.
The WE Finance Code approach creates a shared platform for exchanging best practices, developing innovative solutions, and mobilizing resources toward business segments with strong economic potential.
Looking Ahead
The launch of WE Finance Code Colombia marks an important step toward a stronger, more results-oriented financial system. By promoting an evidence-based and collaborative approach, the initiative helps strengthen the role of the financial sector as a driver of productive development.
Ultimately, the goal is to advance a model in which economic opportunities reach more businesses, generating benefits not only for business growth but also for the country’s broader economic development.
Authors
Laura Giraldo
Laura has over 8 years of experience working in operations, strategy, and project management at IDB and the private sector. Prior to joining the Advisory Service Team as Gender, Diversity, and Inclusion Officer, she structured blended financed transactions that focused on increasing access to finance to women entrepreneurs in Latin America and the Caribbean. Prior to this, Laura worked at UberEATS as an Operations Specialist helping them optimize processes for the opening of new markets in the US. She has also worked for BID Lab in gender projects, and for the Grants Co-financing management unit at the IDB providing analysis and fund reporting to donors. She holds an MBA from IE Business School, and a B.A. in Economics from the University of Florida at Gainesville.
Valentina Ochoa Restrepo
Valentina is the National Coordinator of the WE Finance Code in Colombia. At IDB Invest, she leads efforts to bring together the country’s financial sector to expand financing for women-led businesses. She has more than 12 years of experience in financial inclusion, sustainability, and social development across the financial, public, and multilateral sectors. Before joining IDB Invest, she headed Asobancaria’s Social Innovation Lab, where she led industry-wide initiatives to advance the inclusion of historically underserved populations. She holds a bachelor’s degree in political science from Universidad de los Andes and master’s degrees in public policy and international public management, including one from Sciences Po.
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