Finance for Women Economic Empowerment (FIWEE)
Financial inclusion can lead to the economic empowerment of women in powerful ways. UNCDF sees women as actors in—rather than beneficiaries of—change processes, recognizing their role as entrepreneurs, employees and consumers. Financial inclusion can enhance the options of women in manage their household finance through building assets, mitigating risk and seizing economic opportunities. Financial Service Providers (FSPs), through sustainable financial practices that combine financial, social and environmental sustainability in their lending operations, can empower women as employees and consumers by funding the production of goods and services that benefit women in their socio- economic roles.
A key aspect is that the programme will not only address access to the right kind of financial and non-financial services to enhance economic opportunities, but also consider agency issues, including a wide range of socio-economic factors, that impede women from using and benefitting from financial services, even with access. A global technical hub will be set up with the goal of fostering women’s economic empowerment through inclusive financial markets. It will develop innovative approaches and models and link them to UNCDF’s existing programmes, to test and scale up innovations through existing platforms to create substantial economies of scale and scope. UNCDF will in this manner seek to impact national agendas on women’s economic empowerment, particularly through increased financial inclusion.
- June 2016