• About
  • Contact Us
Thursday, March 23, 2023
The Gist Day
No Result
View All Result
  • Login
  • News
    • All
    • National
    Adamawa Monarch Demands Sanusi’s Restoration

    Adamawa Monarch Demands Sanusi’s Restoration

    Abia residents celebrate Otti’s victory with free drinks, fireworks

    Abia residents celebrate Otti’s victory with free drinks, fireworks

    Read Tinubu's Latest Letter To President Buhari

    Buhari declines assent to customs and excise amendment Bill

    INEC Failed To Upload My Name — Lagos Assembly LP Candidate, Olumide Oworu

    INEC Failed To Upload My Name — Lagos Assembly LP Candidate, Olumide Oworu

    Ripples as Ogun ex-permanent secretary, wife found dead in Lagos home

    Ripples as Ogun ex-permanent secretary, wife found dead in Lagos home

    Ooni Of Ife Makes His Acting Debut In Historic Nollywood Movie

    Ooni inaugurates National Orisa Day in Brazil

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • News
    • All
    • National
    Adamawa Monarch Demands Sanusi’s Restoration

    Adamawa Monarch Demands Sanusi’s Restoration

    Abia residents celebrate Otti’s victory with free drinks, fireworks

    Abia residents celebrate Otti’s victory with free drinks, fireworks

    Read Tinubu's Latest Letter To President Buhari

    Buhari declines assent to customs and excise amendment Bill

    INEC Failed To Upload My Name — Lagos Assembly LP Candidate, Olumide Oworu

    INEC Failed To Upload My Name — Lagos Assembly LP Candidate, Olumide Oworu

    Ripples as Ogun ex-permanent secretary, wife found dead in Lagos home

    Ripples as Ogun ex-permanent secretary, wife found dead in Lagos home

    Ooni Of Ife Makes His Acting Debut In Historic Nollywood Movie

    Ooni inaugurates National Orisa Day in Brazil

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
No Result
View All Result
Morning News
No Result
View All Result
Home Business

AfDB Sets Mechanism For Women’s Empowerment In Africa

Emmanuel Onminyi by Emmanuel Onminyi
April 3, 2020
in Business, Economy, News
0
Adesina Will Not Step Down As AfDB's President - Oladokun
0
SHARES
39
VIEWS
Share on FacebookShare on Twitter

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a new Gender Equality Trust Fund (GETF) aimed at pushing forward gender equality and women’s empowerment across the continent.

READ ALSO: AfDB Approves Emergency Assistance For WHO

READ ALSO

Adamawa Monarch Demands Sanusi’s Restoration

Naira scarcity: NLC plans to storm CBN offices nationwide

Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme and promote gender-transformative lending and non-lending operations. It is the first thematic fund on gender in the Bank Group’s history. The Fund will be established for an initial period of 10 years.

AFAWA is the Bank’s flagship pan-African initiative which aims to bridge the $42 billion financing gap facing women in Africa. Through AFAWA, the Bank is spearheading a major push to unlock women’s entrepreneurial capacity and economic participation for maximum development impact.

Also on Tuesday 31 March, the Board of Directors of the Bank approved a Risk-Sharing Mechanism – an innovative financial instrument to de-risk women-empowered businesses, enhance their profile with banks and support them to grow and thrive as entrepreneurs.

Anchor investors in the GETF are the governments of France, the Netherlands and the United Kingdom.

“It’s a great day for us as a Bank. It is a great day for the continent and the women of Africa as this facility provides innovative ways to tackle the access to finance challenges for African women business owners,” said African Development Bank President Akinwumi Adesina.

The Africa Guarantee Fund (AGF) has been chosen as the first implementing partner to facilitate access to finance for women-owned small and medium-sized enterprises (SMEs). AGF is a pan-African entity that provides financial institutions with guarantees and other financial products to support SMEs in Africa. AGF has a network spread out over 42 African countries and 150-plus financial institutions, which AFAWA will leverage. This first transaction is expected to unlock up to $2 billion in credit for women-empowered businesses across the continent.

Vanessa Moungar, Bank Director, Gender, Women and Civil Society, described the approval as “the largest effort ever to bridge the gap in access to finance for women in Africa’s history” and said the Fund’s resources and the Risk-Sharing Mechanism would prioritize women’s economic empowerment and high-impact women’s initiatives.

Moungar said the partnership with AGF is a starting point for mobilizing other financial institutions and increasing access to finance for women entrepreneurs on the continent.

Apart from the G7 donors and the Netherlands, other countries are showing strong interest in contributing to the initiative, including Rwanda and Sweden. The Bank Group will continue to mobilize resources in order to unlock $5 billion worth of financing for women-empowered businesses in Africa. AFAWA is also an implementing partner of the Women Entrepreneurship Finance (We-Fi) Initiative.

Tags: AfDBAfricaNetherlandRwandaSweden

Related Posts

Adamawa Monarch Demands Sanusi’s Restoration
National

Adamawa Monarch Demands Sanusi’s Restoration

March 23, 2023
NLC Appeals For Reinstatement Of 2,414 Teachers Sacked In Kwara
Business

Naira scarcity: NLC plans to storm CBN offices nationwide

March 23, 2023
Abia residents celebrate Otti’s victory with free drinks, fireworks
News

Abia residents celebrate Otti’s victory with free drinks, fireworks

March 23, 2023
Five Cheap CBN Loans Should Not Miss As A Business Owner
Business

Naira Scarcity: CBN promises to make old naira notes available to banks

March 23, 2023
Decision to redesign naira notes positive for economy – Experts
Business

Naira Scarcity: CBN orders banks to collect old

March 23, 2023
Read Tinubu's Latest Letter To President Buhari
News

Buhari declines assent to customs and excise amendment Bill

March 23, 2023

glo
app




app
GTBank ADs GTBank ADs GTBank ADs

LATEST NEWS

Dollar To Naira Black Market Exchange Rate Today 23rd December 2022

Dollar To Naira Black Market Exchange Rate Today 22nd March 2023

March 22, 2023
I married a woman in whom I am well pleased – Actor Artus Frank Tells People Age-Shaming His Wife

I married a woman in whom I am well pleased – Actor Artus Frank Tells People Age-Shaming His Wife

March 22, 2023
Let Lagos State Be by Femi Okunnu, SAN

Let Lagos State Be by Femi Okunnu, SAN

March 23, 2023
Dollar To Naira Black Market Exchange Rate Today 23rd December 2022

Dollar To Naira Black Market Exchange Rate Today 23rd March 2023

March 23, 2023
‘Don Jazzy dey enter my eye’ – Tiwa Savage makes subtle advances at Mavin boss

‘Don Jazzy dey enter my eye’ – Tiwa Savage makes subtle advances at Mavin boss

March 22, 2023

EDITOR'S PICK

Five Cheap CBN Loans Should Not Miss As A Business Owner

Naira Scarcity: CBN promises to make old naira notes available to banks

March 23, 2023
Nigeria COVID-19

FG Issues Warning To Private Hospitals Treating COVID-19 Cases

April 17, 2020
Imo Hope Uzodinma Death

Your Attempt To Gain From Gulak’s Murder Has Failed, Uzodinma Tells Fani-Kayode

June 3, 2021
Odemwingie Apologises To Kanu Nwakwo Over Outburst

Odemwingie Apologises To Kanu Nwakwo Over Outburst

December 9, 2020

About

We bring you the stories that perfect for news, finance, politics etc. Check our landing page for details.

Follow us

Categories

  • A Call to Prayer
  • Agriculture
  • Appointments
  • Business
  • Celebrities
  • Coronavirus
  • Corporate Amazon
  • Economy
  • Education
  • Entertainment
  • Environment
  • Fashion
  • Financial Literacy
  • From the Kaaba
  • From the Pulpit
  • Gist & Jabs
  • Health
  • Jobmart
  • Lifestyle
  • Living
  • Metro Gist
  • National
  • News
  • Op-Ed
  • Opinion
  • Politics
  • Press Release
  • Religion
  • Sport
  • State News
  • Tech
  • Tourism
  • Travel
  • Uncategorized
  • World News

Recent Posts

  • Let Lagos State Be by Femi Okunnu, SAN
  • Adamawa Monarch Demands Sanusi’s Restoration
  • Prophet Odumeje Makes U-Turn Over I’ll Die Soon Comment
  • INEC declares Peter Mbah of PDP winner of Enugu State Governorship Poll
  • Disclaimer
  • Google Adsense
  • Home 2
  • Ikoyi building collapse: Corper who redeployed from Borno to Lagos, confirmed dead
  • Leaked Conversation: There Will Know Peace Until Hope Uzodimma Leaves Government House – Emeka Ihedioha
  • MAN Condemns Invasion Of Dangote Cement Plant By Kogi State Govt
  • Privacy Policy
  • Sample Page
  • TheGistDay
  • Whitemoney And New Lady Spotted Stepping Out Of Hotel Together (Video)

© 2022 TheGistDay.

No Result
View All Result
  • News
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel

© 2022 TheGistDay.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In