GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share
  • Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force
  • Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs
Dubai-UAE: 13 February, 2018 –   A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to support and empower women to become entrepreneurs and contribute to the economy on day two of the sixth World Government Summit in Dubai today. 
 
Conducted by the UAE Ministry of Foreign Affairs and International Cooperation in collaboration with the World Bank and its sister organization, the International Finance Corporation (IFC), the ‘Women Entrepreneurs Rising Worldwide' session introduced a new financing initiative launched by the World Bank Group. The Women Entrepreneurs Finance Initiative (We-Fi) aims to raise more than US$1 billion in financing to improve access to capital, provide technical assistance, and invest in projects and programs that support women and women-led small and medium-sized enterprises (SMEs) globally. 
 
Her Excellency Reem bint Ebrahim Al Hashimi, UAE Minister of State for International Cooperation, led the panel that also included Dr Jim Yong Kim, President of the World Bank Group, and Fadi Ghandour, Executive Chairman of Wamda Capital and founder of Aramex.
 
Speaking on the importance of supporting women entrepreneurs, she said: “The achievements of Emirati women can serve as an inspiration for women in many developing countries.” Her Excellency went on to point out how the UAE was the first Arab country to close the gender gap in the labor force and thus, Emirati women today have equal opportunities to receive a quality tertiary education, and became valuable assets in the labor force.  
 
Her Excellency added “This event at the World Government Summit showcases how supporting women entrepreneurs makes economies stronger and more resilient. The World Government Summit also serves as a platform to highlight the success stories of successful women entrepreneurs from around the world.”
 
“We know for a fact that enabling women to work, and to own and run their own enterprises, isn't just good for business, it's necessary for economic growth,' World Bank Group President Jim Yong Kim said. He added, 'We're very pleased that the U.A.E. and 13 other countries are supporting We-Fi, which will help women around the world overcome barriers to starting and running successful businesses.' 
 
Focusing on the need for access to capital, Dr Jim Yong Kim said: “Only 30 percent of SMEs around the world are owned and run by women. Seventy percent of women-owned SMEs in developing countries are either shut out of financial institutions or can't get the capital they need. This results in a nearly US$300 billion annual credit deficit for women-owned SMEs. It is nearly impossible to sustain a business without access to capital.”
 
Highlighting the need for seed funding for entrepreneurs, both male and female, Fadi Ghandour added: “Access to seed capital is incredibly important and very difficult to obtain. We need to foster a healthy discussion about how to support entrepreneurs at this early and high-risk stage. Most importantly, financial support has to be accompanied by mentorship and advice from seasoned advisors to enable young businesses to become truly successful.” 
 
In the final part of the session, female entrepreneurs from the MENA region recounted their challenges and success stories on their entrepreneurship journey. 
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the World Government Summit 2018 runs from February 11 to 13 at the Madinat Jumeirah in Dubai. The landmark event convenes more than 4,000 participants from 140 countries, including heads of state and governments, as well as top-tier representatives of 16 international organizations.
 
Hosting more than 130 speakers across 120 interactive sessions, WGS 2018 features six distinct forums that examine the challenges of vital sectors for the future with a view to finding the best resolutions for the greater global good. Furthermore, over 20 specialized global reports spanning key sectors and topics of the summit are being launched during the event.



Posted by : GoDubai Editorial Team
Viewed 12298 times
Posted on : Tuesday, February 13, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence
Next Story : Qualcomm Extends Cash Tender Offer for All Outstanding Shares of NXP
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
Interview with Asil Attar, CEO of Al Yasra Fashion
Festive Gift Sets from Bubble T
Get Ready for Party Season with Lottie's new make-up hits
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
Winter wool Christmas must- haves
DKNY Launches (Limited Edition) Holiday 2018 Collection
Samsung Galaxy A9 – Designed to capture the world in its fullest
Chic and Stylish Wraps with a 3 in 1 effortless concept
New 1948 Seamaster Watches Join the Ranks'
Michael Kors Collection Transeason 2019 Press Presentation
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
Santa is Coming to Town!
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus...
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory
Dubai Shopping Festival Wednesday Specials at The Smile Bar
UAE students win top awards at international math competition in Malaysia
Enjoy 11 exciting new street entertainment shows at BOLLYWOOD PARKS™ Dubai
Get Party Ready with Champion Cleaners
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
'Introducing the GUESS Jeans Fall 2018 Collection'
Nine winners honored by DQG for their innovative ideas at the 10th Global Contin...
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Over 80 developers showcase top projects at Indian Property Show in Dubai
Ring in the New Year With Four Firework Shows at Dubai Festival City Mall
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
CITIZEN's “#MyBetterStartsNow” campaign seeks out UAE's inspired and driven indi...
His Highness Sheikh Saud discusses collaboration with British Consul-General And...
Puma and Hasbro Announce New Collaboration
Arla Foods launches initiative with UAE Ministry of Education to promote healthi...
CBUAE and Central Bank of China meet to Enhance Renminbi Clearing in the UAE
Bawabat Al Sharq Mall is all set to welcome an exciting festive season with 'Wi...
Listen to the Autism Beat Gala Dinner at Atlantis - The Palm
Al Hosn Now Open to the Public
Over 2,000 Cyclists Took Part in the Cycle Challenge of the Year
It's a Wrap! The Second JLT Restaurant Awards Conclude with a Glitzy Ceremony At...
Julphar to Launch Wearable Insulin Delivery Device in GCC
Model of the Year Takes Camo to Catwalk Level
SAVEX 11 TO 15 DECEMBER 2018
Joe's Backyard Opens at the Holiday Inn, Dubai Festival City
Young Emirati Champion Rashid Al Dhaheri Powers Ahead to Stunning Victory at the...
Dubai Islamic Bank triumphs at Islamic Business and Finance Awards 2018
Marni Introduces Marni Rothko, A 7-layer Acetate Frame With a Vivid, New Color ...
Al Ghurair Centre Teams Up With Nike to Support Its ‘We Play DXB' Campaign
University of Balamand Dubai and Emicool agree MoU for student scholarships
Health Authorities advocate early screening for prevention of cardiovascular disease.
Fine hosts visually-impaired mountaineering hero Erik Weihenmayer
Dubai being crowned as the ‘Champion City' for District Cooling Solutions: Inter...