Report on Women’s Entrepreneurship and Access to Finance LaunchedNov 17, 2017
JAKARTA – The United Nations Development Programme (UNDP) will launch today its new report funded by the Government of Canada entitled Women’s Entrepreneurship and Access to Finance: Challenges and Opportunities of Women-led Social Enterprises in Indonesia. UN Assistant Secretary General and UNDP Regional Director for Asia-Pacific, Mr. Haoliang Xu, together with the Ambassador of Canada to Indonesia, H.E. Peter MacArthur, will unveil the new report at the Borobudur Hotel, where UNDP is organizing a Conference on Innovative Finance for Development.
The report provides insight on the state of women-led social enterprises in Indonesia in the agriculture, fisheries, forestry and technology sectors and highlights the specific challenges they face in growing their business and in accessing finance. The report points out that for those that are growth-oriented and aspire to expand their operations, they face a gap in that they are too small to access commercial banking but too big for micro-finance institutions.
“Canada is pleased to have supported this research on women’s social entrepreneurship and access to finance in Indonesia. Gender equality and the empowerment of women and girls are at the heart of Canada’s international assistance efforts and we are delighted to partner with UNDP on these issues. We are convinced that a feminist approach to development – one that targets gaps and barriers to women’s and girls’ access to and control over resources – is the best approach to reducing poverty and inequality and achieving a lasting economic growth and progressive trade,” said Ambassador Peter MacArthur.
“While there are encouraging success stories, too many women-led enterprises face daunting challenges, including restricted access to loans and discrimination. Existing barriers limit economic growth, employment generation and the overall contributions, which women can make to development,” says UNDP Country Director Christophe Bahuet. “Unlocking women entrepreneur’s potential will be a decisive step to meet the Sustainable Development Goals. We encourage all public institutions and private companies to consider the report findings and recommendations and to take actions to break the barriers to the growth of women’s entrepreneurs.”
The report aims to help policymakers provide an enabling environment that responds to the specific challenges women entrepreneurs face in Indonesia, while encouraging targeted financing solutions for women entrepreneurs. It also encourages capital providers to design new products and services to meet the needs of women-led social enterprises and support their growth. One example of these initiatives, the Connector.Id online matchmaking fund which connects entrepreneurs with possible investors, was launched during the Conference on Innovative Finance for Development Innovative Financing Conference
Head of Communications Unit UNDP