British International Investment (BII) plans for 30% of new investments in its core portfolio to qualify under the 2X Challenge as part of its 2026–31 strategy, expanding its focus on gender-lens investing across Africa and other markets.

The UK development finance institution reaffirmed the target at the 2X Global Summit in Montréal, where development and multilateral finance institutions renewed their commitment to the 2X Challenge, an initiative aimed at mobilising capital to support women’s economic empowerment.

Since its launch in 2018, the 2X Challenge has mobilised more than $33 billion towards investments meeting its gender criteria. The current 2024–27 initiative aims to mobilise at least $20 billion, with an increased focus on attracting private investors.

BII has committed more than $3.5 billion to 2X-qualified investments since 2018. It has also provided more than $586 million in lending to women-led businesses.

The institution said its annual gender finance commitments increased from £24 million in 2019 to more than £585 million in 2025.

Under its new five-year strategy, BII will focus its gender investments on expanding women’s financial and digital inclusion, supporting employment opportunities for women and increasing their participation in climate and low-carbon industries.

“Gender-lens investing has never been more critical for advancing inclusive economic growth,” said Amal-Lee Amin, Managing Director and Head of Climate, Diversity and Advisory at BII.

“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,” she added.

BII also launched an updated Gender and Inclusive Finance Toolkit at the summit, designed to help fund managers, investors and businesses incorporate gender considerations throughout the investment process.

The resource includes tools for different stages of the investment lifecycle, examples from BII’s portfolio and guidance for portfolio companies.

Among the investments highlighted by BII is the Kenhardt Solar Project in South Africa, where women accounted for 13% of the construction workforce and women-led small and medium-sized businesses secured 48% of subcontracting opportunities. The project is now operational with 540MW of solar generation capacity alongside battery storage.

BII has also invested $5 million in Aruwa Capital Fund II, managed by female-led private equity firm Aruwa Capital Management. The investment helped the fund reach $35 million towards its fundraising target.

“Our refreshed Toolkit brings together the tools, evidence and practical examples investors need to move from ambition to action,” Amin said. “We also know that progress takes time, so our approach is focused on learning, working with investees and bringing more investors with us.”