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European Union

European Investment Bank and Partners Launch Initiative to Support Women's Entrepreneurship in Africa, Asia, and Latin America

Strategic Insights

— 1 min read

In a significant move towards promoting gender equality and women's economic empowerment, the European Investment Bank (EIB) has launched the "Women for Stronger Communities and Growth" initiative alongside key partners, including the European Commission, the Government of Luxembourg, the Gates Foundation, the World Bank's Consultative Group to Assist the Poor, and the International Labour Organization. The initiative aims to support investment in women-led businesses, particularly in agriculture and the blue economy, in Africa, Asia, and Latin America.

Key Takeaways:

  • The "Women for Stronger Communities and Growth" initiative will invest in women-led businesses in agriculture, climate action, and energy, focusing on African, Asian, and Latin American regions.
  • The initiative will focus on projects that promote women's financial inclusion, entrepreneurship, and economic empowerment, aligning with the EU's Global Gateway strategy.
  • Partners have signed a EUR20 million deal with Banque El Amana in Mauritania to support small businesses led and owned by women in the blue economy.
  • The European Commission's Global Gateway strategy aims to provide new opportunities for women around the world through projects in key sectors like health, entrepreneurship, agriculture, and energy.
  • The EU's Gender Action Plan for External Action (GAP III) and the 2X Challenge, a multilateral commitment, will also support the initiative.
  • Partners, including the Gates Foundation, World Bank's Consultative Group to Assist the Poor, and the International Labour Organization, have committed to supporting the initiative and promoting women's financial inclusion and entrepreneurship.

Statistics:

  • EUR20 million invested in a deal with Banque El Amana in Mauritania to support small businesses led and owned by women in the blue economy.
  • EUR20 billion commitment from the 2X Challenge, a multilateral effort, to invest in women through the next three years.
  • Projects financed by the "Women for Stronger Communities and Growth" initiative will focus on agricultural value chains and the blue economy, supporting female entrepreneurship and financial inclusion.
  • The initiative aligns with the EU's Global Gateway priorities, contributing to the GAP III and the 2X Challenge.

Sources:

  • European Investment Bank (EIB) press release
  • European Commission announcement
  • Government of Luxembourg statement
  • Gates Foundation statement
  • World Bank's Consultative Group to Assist the Poor (CGAP) statement
  • International Labour Organization (ILO) announcement
  • EU's Global Gateway strategy document
  • EU's Gender Action Plan for External Action (GAP III) document
  • 2X Challenge multilateral commitment document

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