Support for female entrepreneurs - BoA and EBRD launch Code to increase access to finance for women in business
The Bank of Albania and the European Bank for Reconstruction and Development (EBRD) launched today the “WE Finance Code Albania – Code for Financing Women Entrepreneurs”, with the aim of increasing access to finance for micro, small and medium-sized enterprises (MSMEs) run or owned by women.
In his speech, Governor Sejko praised this initiative as an important commitment that aims to support the development of women's entrepreneurship, through a data-based approach, institutional cooperation and concrete actions.
"Today, Albania officially joins the global WE Finance Code initiative - the Code for Financing Women Entrepreneurs. We consider this as an important commitment to further strengthening financial inclusion and to creating a more structured framework that enables us to better understand and address the needs of women entrepreneurs in accessing finance. But above all, we see this initiative as an opportunity to better mobilize the entire financial and institutional ecosystem around a common objective ," said Sejko.
One of the concrete results of the initiative is the creation of a national analytical panel on MSME financing. This instrument creates a new knowledge base for the market, enabling the integrated analysis of information on loans and deposits with the characteristics of businesses. However, according to Sejko, the success of the code will be determined by the opportunities that will be created for women entrepreneurs.
"The success of the Code for Financing Women Entrepreneurs in Albania will not be determined by the analytical panel we publish, or by the number of institutions that engage. It will be determined by the real opportunities we create for women entrepreneurs. Success will be when a woman with a good business idea has access to information, products and financing that enable her to turn that idea into a sustainable and competitive business," said the Governor.
The launch of the “WE Finance Code Albania” marks the beginning of a long-term process, in which the signatory institutions will work together to improve data quality, monitor progress, and create more favorable conditions for the development of women's entrepreneurship in Albania.
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