North Africa: IFC, Seco Sign Agreement to Expand Access to Finance to Women Across MENA

press release

Washington — IFC, a member of the World Bank Group, signed an agreement with the government of Switzerland today to boost access to financial services for women in the Middle East and North Africa, to help close the economic gender gap and support growth and jobs.

The Swiss Secretariat for Economic Affairs (SECO) will provide up to $5 million to support IFC Advisory's Women Banking Champions initiative in Egypt, Morocco and Tunisia. Women own over 300,000 small and medium enterprises (SMEs) in MENA - about a third of the more than 1 million SMEs that form the backbone of the regional economy. But women entrepreneurs often struggle to obtain financing, with the average female-owned SME in the region needing an extra $270,000 in credit to thrive.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.