EIB: boosting gender equality in Africa
The European Investment Bank (EIB) launches a new initiative - SheInvest - to boost gender equality and female economic empowerment in Africa.
The aim of the initiative is to utilise US$1.09bn of investment money to benefit millions of women across Africa, providing better access to finance as well as creating a sustainable infrastructure of products and services.
EIB aims to build on its experience in northern and sub-Saharan African countries, as well as its gender focused lending to increase its investment efforst in projects, sectors and markets that will help to transform gender equality as well as increase the capacity for participation in the economy and labour markets. Technical assistance will also provide, capacity building and mentoring services to women entrepreneurs, to provide better access to finance and tailored financial products.
In addition, particular focus will be spent on targeting climate and gender responsive infrastructure projects, such as enhancing access to water as well as clean, reliable and affordable energy and sustainable public transport.
“Unlocking the potential of women is key to boosting Africa’s economic growth. In several African countries many women still lack access to basic services and are excluded from the financial and labour markets, making them unable to contribute fully to their continent’s development. As the bank of the European Union, we are committed to deliver on gender equality and are proud to be backing this important mission through the new SheInvest initiative,” commented Ambroise Fayolle, EIB Vice-President in charge of development operations.
Did you know? Business Chief Africa spoke with Dr. Anino Emuwa, Founder of Avandis Consulting this month to discuss women in leadership roles.
For more information on business topics in the Middle East and Africa, please take a look at the latest edition of Business Chief MEA.