Since the launch of the 2X Challenge in 2018, gender-lens investing has grown into one of the most influential movements in development finance, mobilising more than $33 billion into gender-smart opportunities around the world. At the centre of this movement is a shared assumption: meeting the 2X Criteria leads to meaningful improvements for women.
For the first time, that assumption has now been tested across multiple development finance institutions at scale.
Kore Global is proud to share the results of a portfolio-wide synthesis of four independent gender evaluations undertaken across the portfolios of the following DFIs:
Kore Global led three of these four evaluations—those for BII, Proparco, and FinDev Canada—and served as the synthesis partner across all four. This dual role gives us a unique vantage point into how gender-smart investing is working in practice across geographies, sectors, and investment models.
Together, the evaluations covered 81 unique investments, offering the most comprehensive view to date of how the 2X Criteria shape gender outcomes across DFI portfolios.
About the Project
Between 2023 and 2025, these four DFIs commissioned independent evaluations to understand the gender outcomes achieved through their 2X-aligned investments. Although each evaluation followed its own objectives and methodology, they shared a common mandate:
- Assess outcomes for women employees, consumers, entrepreneurs, and leaders
- Determine how 2X Criteria and/or GLI practices contributed to those results
- Identify barriers and enablers of gender impact
- Generate actionable recommendations to strengthen gender-smart investing practices
In September 2025, Kore Global was invited to present the synthesis findings at the 2X Summit in Manila, bringing these insights to the global gender-lens investing community and shaping discussions on the future of the 2X movement.
Kore Global’s Role
Our team contributed across the full cycle of evaluation, synthesis, and strategic learning, including the following:
1. Leading three full DFI gender evaluations
For BII, Proparco, and FinDev Canada, Kore Global designed the methodology, oversaw data collection and analysis, led stakeholder engagement, and delivered final evaluation reports.
2. Creating the cross-DFI analytical framework
To ensure consistency and comparability across four distinct evaluations and investment approaches.
3. Conducting a portfolio-wide synthesis
Bringing together evidence from 81 investments to extract trends, patterns, and system-level implications.
4. Translating evidence into recommendations
Supporting DFIs, fund managers, and private-sector partners to strengthen gender integration, align with the updated 2024 2X Criteria, and scale gender-smart practices.
5. Sharing findings across the global field
Including presenting at the 2X Summit in Manila (September 2025), hosting learning sessions with DFIs, and producing this synthesis report and blog.
Why This Matters
The findings demonstrate that the 2X Criteria offer a powerful foundation—but deeper, sustained gender impact relies on the systems, values, and intentionality that organisations embed beyond initial qualification.
Kore Global remains committed to supporting DFIs and investors as they move from
- qualification → to transformation
- thresholds → to systems change
- commitments → to gender equality outcomes
Explore the Full Synthesis
📄 Download the report:
Show me the impact! Findings and insights from DFI gender portfolio evaluations
📝 Read the companion blog:
A concise overview of the insights and what they mean for the future of gender-lens investing.