Introducing our 2023 Impact Report.

I am delighted to launch the Global Innovation Fund’s 2023 impact report detailing the progress we have made to advance GIF’s mission of accelerating innovation to improve the lives of the world’s poorest people.

Through grants, loans and equity investments, GIF’s portfolio of innovations has the potential for outsized social impact whether through new technologies, policies, business models, or behavioural insights. This year, GIF invested in innovations to address challenges including access to clean drinking water, domestic violence, and increasing agency amongst marginalised women.

To date we have committed $119 million to 68 Innovations, with a footprint in 36 low-and-middle income countries. Innovations in our portfolio are expected to benefit 156m people by 2033. Just six of our earliest investments have already created $2.8bn of social benefits, of which $945m is attributable to GIF.

2023 was the world’s warmest year since records began. GIF continues to seek out scalable and innovative solutions that can strengthen the resilience of the most vulnerable communities to the impacts of climate change. This year, we appointed a climate advisory group team of expert advisors to support and elevate our work in climate adaptation.

We also marked the fifth anniversary of our Innovating for Gender Equality Fund, and partner with 14 ambitious, committed and diverse innovators driving positive outcomes for women and girls. By placing an explicit value on women’s agency, GIF’s investments have been transformative – and are now rapidly scaling.

GIF’s creative approach to financing addresses the large, unmet demand for blended, risk-taking capital in fragile places. It also makes our portfolio more investible. In 2023, our approach mobilised $10 of additional investment from commercial funders as well as from the philanthropic/ public sector. It also helps unlock the vital private sector capital required to deliver against the SDGs.

GIF works with forward-thinking, mission-aligned government development agencies, foundations and businesses. I would like to take this opportunity to thank them for their continued input and commitment to scale innovation. I hope you enjoy reading the full details of GIF’s impact, progress, and achievements throughout 2023.