We volunteered to help the Overseas Private Investment Corporation (OPIC) name a new initiative. OPIC, the United States’ development finance institution, helps domestic businesses invest in emerging markets. Its new initiative, focused on empowering female entrepreneurs in developing countries, will mobilize $1 billion in capital to invest in the world’s women. Women are drastically underrepresented in the global economy. They face a $300 billion shortfall in access to credit.
OPIC seeks to unlock the multi-trillion dollar investment opportunity that women represent. As a whole, women make up the the world’s largest emerging market – more than twice the size of India and China combined. In addition to representing an economic growth opportunity, empowering women provides stability. When women earn a competitive income, they spend 90 percent of it on their households. In considering names, we knew this program must evoke the many impacts investing in women can have. Hence “2X,” which represents both a multiplier effect as well as a subtle, chromosomal nod.