Smart Financing for Women's Entrepreneurship

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CONTEXT

At the WTO’s 11th Ministerial Conference, the majority of WTO Members joined the Buenos Aires Declaration on Trade and Women’s Economic Empowerment. The Declaration was drafted by the Trade Impact Group, under the auspices of the International Gender Champions, a leadership network that seeks to break down gender barriers. Building on the momentum achieved by this important accomplishment, signatories are beginning to translate the Declaration into meaningful action.

This workshop will focus on advancing women’s economic empowerment through financial inclusion, with an emphasis on trade finance, shaping enabling policies and institutional environment, and innovative solutions related to financial technology. Speakers will share experiences and lessons learned, discuss challenges and successes experienced by various actors, and highlight implications for trade policy makers and the international community.

The workshop is co-organised by Rwanda, African Development Bank, Asian Development Bank, Intra-American Development Bank, International Trade Centre and Islamic Development Bank, in cooperation with the WTO.

EVENT DETAILS

Date: 11 October 2019
Time: 8:30-1:30pm
Location: International Trade Centre (54 rue de Montbrillant, 1202 Geneva, Switzerland)

*Note: Please bring your UN/WTO badge or a copy of your ID to enter the building.

REGISTRATION

Fill in the form below to attend the event.
Deadline to register: 10 October 2019

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* 1. Salutation

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* 2. Name

First

Last

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* 3. Name of Organization

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* 4. Type of Organization

Women Entrepreneur / Women-owned business

Government or government Agency

Chambers of Commerce / Women’s Business Associations

Regional or International Organization

Non-governmental or Non-profit organization

Academia, training and research institution

Independent

Other (please specify)

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* 5. Position Title

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* 6. City

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* 7. Country

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* 8. Email

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* 9. Phone number

BACKGROUND

Despite progress towards greater financial inclusion, more than 980 million women worldwide lack access to financial freedom. Women are still disproportionally excluded from formal financial services with a gender disparity that has remained still at 9% since 2011.

In developing countries, more than 41% of micro, small, and medium sized enterprises, approximately 130 million MSMEs, have unmet financing needs. This finance gap is estimated to be up to $4.5 trillion USD, and women-owned businesses account for 32% of this gap. Women entrepreneurs face a range of challenges in realizing their growth potential, and are more likely than their male counterparts to cite access to finance as a major or severe constraint on their business operations.

For example, female entrepreneurs around the world have unmet funding needs between $260 and $320 billion USD each year. In Africa, funding gaps are as high as 120 billion USD, approximately the equivalent of one-third of the continents trade finance market. In Asia, the gap is up to $700 billion USD.

Without sufficient capital to scale and grow their businesses, women-led enterprises tend to be smaller, have lower profits, and operate in sectors with lower barriers to entry. The enterprises, if allowed to achieve their growth potential, can contribute to greater employment, enhanced regional trade and spur more activity amongst budding entrepreneurs.

Women’s equal participation in international trade is critical to sustaining economic growth, enhancing economy-wide productivity, increasing international competitiveness, and reducing poverty. Addressing the issue of access to finance and financial services for women presents an opportunity to make significant progress towards achieving greater participation in international trade as well as gender equality and women’s empowerment, one of the 17 ambitious Sustainable Development Goals (SDGs).