Addis Ababa, May 26, 2021 (FBC) – President Sahle-Work Zewde launched today the Second Phase Women Entrepreneurship Development Project that aims at benefitting more than 160,000 women.
The World Bank has provided $100 million to implement the project, it was learned.
Launching the project, President Sahle-Work Zewde said the first phase project was instrumental in enhancing women’s economic participation in the country.
The project’s financial and technical support enabled women entrepreneurs to maximize their entrepreneurial business activities, she pointed out.
“The finance and training has enabled the women to fly with two wings,” the president said, adding that the women have become economically independent and created jobs.
This second phase will therefore be expanded to 8 more cities to reach over 160,000 beneficiaries, it was learned.
The First Phase Women Entrepreneurship Development Project implemented with 250 million USD in the past 7 years was executed in 10 cities of four regions, reaching more than 40,000 women through financing and training.
The project has increased earnings and created employments, with 99 percent of the loans repaid, according to ENA.
The first phase of the project was supported by the World Bank, development agencies of Italy, UK, Japan, Canada, and the European Investment Bank.