ISLAMABAD: Facebook is expanding its women’s empowerment initiative, “SheMeansBusiness,” to help women-led businesses in Pakistan gain financial access and resilience.
The ‘SheMeansBusiness’ initiative is active in 21 countries around the world, and Facebook and its partners have taught over one million women in digital skills.
It aims to improve financial management skills to enhance the resilience and sustainability of women-led small and medium businesses (SMBs) in the country. It is implemented in partnership with the State Bank and the USAID program’s new component ‘Business Resilience through Financial Education (BRFE)’.
Sima Kamil, Deputy Governor of the State Bank of Pakistan, expressed her gratitude for Facebook’s and other partners’ efforts to improve the socioeconomic status of women in Pakistan in a video message.
She believes that via skill development and access to capital, women-led small and medium businesses may achieve a level of sustainability and durability. Initiatives like BRFE, she said, will enable and empower Pakistani women to have a greater impact in the nation-building process.
Beth Ann Lim, Facebook’s Director of Policy Programs and Government Outreach for Asia Pacific and worldwide head of SheMeansBusiness, gave the keynote address.
“In Pakistan and elsewhere, financial education is critical for the long-term viability of women-led businesses. SheMeansBusiness reflects Facebook’s long-term commitment to helping women’s economic development in the Asia-Pacific region, with a particular emphasis on the long-term viability of women-led businesses,” Ms Lim added.
Lesslie Viguerie, the US Chargé d’affaires, said in a video message that economic empowerment of women is a key pillar of the US government’s development efforts in Pakistan and around the world, and that investing in women’s empowerment can help eradicate extreme poverty and build vibrant economies.
Two panel discussions took place during the event, during which the panellists discussed the importance of financial management skills for women SMBs, with a particular focus on challenges and opportunities, and exchanged ideas for fostering financial inclusion of women by overcoming existing barriers.
