Increasing women’s access to finance, facilitating and offering practical skills are key elements to promote sustainable economic development, said experts.
Dr. Tadele Ferede Micro Economist at Addis Ababa University said that limitation in accessing finance with affordable credit for businesses is one of the challenges that novice women entrepreneurs encounter. Improving financial support, hence, is laudable as women have broader role in the economy.
Mentioning that, recently the European Investment Bank (EIB) and Ministry of Finance and Economic Cooperation inked a 30 million EUR loan agreement, he said that the loan would have substantial benefit to support women entrepreneurs’ effort and boost up their economic benefit.
“To actualize industriousness and assist the Small and Medium Enterprises (SME) go up to the ladder; pertinent stakes should focus on supplying additional support for women.”
He urged financial institution to focus on mobilizing resources on productive projects that could enable women’s make money, build their entrepreneur skills, and facilitate sustainable development.
“Financial literacy should also be used as one of the tools to assist women understand how to access sufficient funds and how money works, the way it is managed, invested and expends,” he reiterated.
Above all, supplying institutio- nalized leadership, business development and market linkage to ascribed enterprises would assist to ensure sustainability.
According to Dr. Tadele, since microfinance institutions are vibrant spots, strengthening them should be the prime task in focus to make sure that each loan could revolve in the economy in healthy manner.
Shewaferaw Shitahun, an Economist on his part said that projects, if needed to yield the required outcome, should be studied and designed in light of women’s and the youths’ skill and knowledge. The resource should be allocated transparently, accountably and in the spirit of fashion.
A great deal of finance comes from development partners in the form of loans and grants. This though is good, should not be considered as the sole resource to be allocated in various economic endeavours.
The public as it has been doing so far should be able build reliable financial resources to run the economic activities, he remarked.
Herald December 12/2018
BY MENGISTEAB TESHOME
