Women’s entrepreneurship development and support programs are gaining momentum across the globe, led primarily by banks and other financial service companies.
World Bank, for example, launched the Women Entrepreneurship Development Project for Ethiopia with a focus on increasing the earnings of micro and small enterprises owned or partially owned by female entrepreneurs in the region. According to the program’s website, this will be achieved by “tailoring financial instruments to the needs of the participants and ensuring availability of finance” and “developing the entrepreneurial and technical skills of the target group and supporting cluster, technology and product development for their businesses.”
Doral Bank, based in Puerto Rico, has a similar goal. Its Women of Success program has several ongoing projects, including Women’s Business Boost. The Bank recently announced that this year’s number of applications reached an all-time high.
Doral’s Executive Vice President Jesus Mendez said: “We are proud that our program continues to grow and support professional and entrepreneurial women through capital and mentorship. This year’s rise in applications proves the growing role of women as a key driver in our economy and we will continue with our commitment to support their future growth.”
Likewise, Asian Development Bank manages the Women’s Entrepreneurship Support Sector Development Program. Aiming to help small, woman-led businesses in Armenia play a greater role in economic development, the program’s implementation period is 2013-2017.