For women entrepreneurs of the Small and Medium Enterprises who are struggling hard to overcome the covid 19 crisis, there is good news for developing their business. The United Nations Economic and Social Commission for Asia and the pacific and Good Return (not-for-profit organisation that helps in enhancing skills) have joined together to support women SMEs in accessing the capital needed to support their business operations.
The Small and Medium Enterprises, especially the women entrepreneurs, has been badly hit because of Coronavirus pandemic. As per the partnership, multi-country credit guarantee scheme across Cambodia, Nepal, Samoa and Figi will be developed. International impact investors will provide the funds, an official release said.
United Nations Under Secretary General and Executive Secretary of ESCAP Armida Salsiah Alisjahbana said that it was important to address the urgent needs of women entrepreneurs. In partnering with Good Return, the ESCAP hopes to not only address these needs in the short-term, but develop an ecosystem of financial partners who are able to appropriately service women SMEs in the long term, Armida Salsiah Alisjahbana said.
Meanwhile, Good Return CEO Shane Nichols said that several women businesses were impacted in different ways because of Cavid 19. Noting that access to financial services was essential to overcome the crisis, especially with respect to MSMSES, Nichols said that they were supporting these small entrepreneurs as they were of much importance.
The fund is particularly targeted towards women owned or led SMEs. Good Return, with ESCAP’s support, will work directly with financial institutions to undertake gender self-assessments to assess the institutions internal structures, rules and policies as well as financial product offerings to ensure the institution is able to serve its women’s clients appropriately and with tailored products and services which meet women SME’s needs.
Good Return is a not for profit organisation that focuses on women empowerment for the development of small business houses so they can have a stable income to break the poverty cycle for good.
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