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R. Fresson
In the fight against Covid-19, women have been on the front lines of the outbreak – making up a majority of the healthcare workers and bearing much of the responsibility for caregiving with children out of school and relatives falling ill. They have also been disproportionately impacted by the economic consequences of the pandemic – a disadvantage that’s exacerbated by the challenges women face when it comes to accessing financial services: globally, only a third of women have bank accounts and less than a quarter of loans are made to female business owners.
“Inequality and exclusion are two of the biggest barriers to women’s prosperity and this isn’t just a developed or developing world problem alone,” says Shamina Singh, founder and president at the Mastercard Center for Inclusive Growth. “One and a half billion people are excluded from the global economy. And things like basic forms of identification that are needed in the formal economy are still out
New Delhi: With more than 50 percent of India’s MSMEs being in rural areas and over 20 percent owned by women, a robust support structure can expedite the growth of rural women entrepreneurs. Despite their ambition, innovation and passion, women entrepreneurs are held back by several factors like lack of awareness and exposure to best-in-class business practices, limited linkages to markets, constrained access to finance and minimal support to scale. To address these issues and evolving market dynamics, like consumer preference to pay digitally, Mann Deshi Foundation and Mastercard have announced the expansion of the Chamber of Commerce for Rural Women.
Synopsis
Mastercard has launched multiple initiatives in India to help small businesses go online, drive inclusive growth and empower women entrepreneurs.
Chetna Sinha, Founder, Mann Deshi Foundation.
NEW DELHI: With more than 50 percent of India’s MSMEs being in rural areas and 20 percent owned by women, a robust support structure can expedite the growth of rural women entrepreneurs. Despite their ambition, innovation and passion, women entrepreneurs are held back by several factors like lack of awareness and exposure to business practices, limited linkages to markets, constrained access to finance and minimal support to scale. To address these issues and evolving market dynamics, like consumer preference to pay digitally, Mann Deshi Foundation and Mastercard have announced the expansion of the Chamber of Commerce for Rural Women.