Women Empowerment Fund was set up in June 2023. It aims to empower women, regardless of their age, occupation, background, etc., to realise their full potentials in their respective arenas, ultimately achieving the goal of promoting women's development in Hong Kong.

The Government attaches great importance to women's contribution to the community and the work of supporting women. In his 2022 Policy Address, the Chief Executive announced to substantially increase funding for organising activities to promote women's development by the Women's Commission from $4 million to $10 million per annum in the next three years. A Women Empowerment Fund (WEF) would be set up to subsidise community projects that support women in juggling their jobs and family life, bringing women's awareness to their own physical and mental health and unleashing their potential. Subsequently, the Financial Secretary announced in the 2023-24 Budget to set aside $100 million to strengthen support for women's development and the related tasks. The Government makes use of this additional provision to increase the annual funding for the WEF from $10 million to $20 million in the next six years starting from 2023-24. The WEF will subsidise women's groups and non-governmental organisations for launching appropriate projects to support local women.