Mumbai, July 5 Financing Women Collaborative (FWC), an initiative of Women Entrepreneurs Platform (WEP), on Friday announced a new collaboration to support women entrepreneurs through enhanced financing for them at a workshop held here.
As part of the workshop, WEP Mission Director and Principal Economic Advisor, NITI Aayog, Anna Roy launched several initiatives.
Key highlights included the announcement of MAVIM partnering with MSC under the FWC to improve access to finance through alternative credit rating mechanism and collaborate with banks to offer more customized products for women entrepreneurs in Maharashtra.
Other initiatives announced to benefit women entrepreneurs included exchange of MoU between WEP and GroW Network set up by AfD, SIDBI and Shakti Sustainable Energy Foundation, launch of ‘Seher’ programme by TU CIBIL and launch of Shine programme in partnership with CreditEnable to enhance credit readiness of women-led businesses.
Additionally, SEWA Bank’s initiative to reach out to more women entrepreneurs as members of the FWC was also announced.
The event featured an engaging session examining “Perspectives on Encouraging Banks to Lend to Women Beyond SHG Groups” and a panel discussion titled “Accelerating Women’s Access to Finance: Unlocking the Potential of Women-Led Economy Towards Achieving Vision 2047”.
The conference was organised by WEP in collaboration with TransUnion CIBIL (TU CIBIL) and MicroSave Consulting (MSC).
Key attendees included senior officials from NITI Aayog, RBI, Ministry of Finance, Ministry of MSME, SIDBI, nationalised banks, private financial institutions, CSOs/NGOs, women entrepreneurs etc. who participated in the workshop.
WEP was established under NITI Aayog in 2018 as an aggregator platform and transitioned to a public-private partnership in 2022. WEP aims to strengthen the women entrepreneurial ecosystem in India.
It provides a forum for all stakeholders in the ecosystem across governments, businesses, philanthropies and civil society to collaborate, converge and align initiatives towards scalable, sustainable and effective programs, enabling greater impact for women entrepreneurs.
WEP has over 20 public and private sector partners who work together to strengthen women entrepreneurs in India.
The FWC, an initiative of WEP, launched in September 2023, aims to enhance access to finance for women entrepreneurs in India. It is chaired by Small and Medium Enterprise Development Bank of India (SIDBI), co-chaired by TU CIBIL and secretariat by MSC.
FWC brings together organisations that work with the financial services sector and women entrepreneurs to build a funding ecosystem that supports women.
–IANS
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