The World Bank (WB) unveiled a new program, the Women Entrepreneurs Finance Initiative, that is designed to boost women entrepreneurs in developing countries and fight the norms that hold them back, such as uneven access to loans and shaky property rights. WB has raised $325 million from numerous countries, with $50 million coming from the United States and other contributions from Germany, Saudi Arabia, the United Arab Emirates, Japan, China, the United Kingdom, South Korea, and the Netherlands.
Less than a third of global businesses are owned by women, and the initiative aims to grow women-run enterprises across Africa, Latin America and the Middle East. It will also help facilitate loans to entrepreneurs, ranging in size from between a few hundred dollars to several hundred thousand dollars, depending on the applicant’s needs. World Bank officials said they hope to make the capital available later this year or in early 2018.
We cheer on the WB because it has a long history of providing support to women who are challenged by economic disadvantages. For example, they launched the Women’s Leadership in Small and Medium Enterprises (WLSME) program, supported by the U.S. Agency for International Development (USAID).
Read more about how the WB will help women globally to reach their full potential here.
Note: Don’t miss our next WEGGinar™ 7/12/17 on “How to Finance Your Exports,” and presented by Xiomara Creque-Bromberg, Export Finance Manager, Minority and Women Owned Business & Multiplier Outreach Division, Office of Small Business, Export-Import Bank of the United States. Register here: https://register.gotowebinar.com/register/4467897765873413377.
Event is no charge but you must register in advance to attend.