CAIRO (UNA-OIC) – The Women Development Organization (WDO) participated in the first workshop of the series of webinars and workshops organized by the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) during the year 2022 under the theme “MICROFINANCE DIRECTIONS REGIONAL & INTERNATIONAL EXPERIENCES”.
In his statement, Ambassador Ehab Fawzy, the Deputy Executive Director of the WDO highlighted the economic inequalities which women and girls are exposed tom noting that such inequalities were exacerbated because of the consequences of the Covid-19 Pandemic. He added that WDO conducted extensive consultations with Organization of Islamic Cooperation member states in order to identify the four thematic pillars of its first programmatic cycle. One of the main components of the framework is micro-finance especially for our least developed countries including the G5 Sahel Countries.
He also stressed, in his statement, on the importance of enacting legislations and undertaking reforms to realize the equal rights of women and men to access economic and productive resources, including access to, ownership of and control over land, appropriate new technology and financial services. He called for a collective action to promote the transition to formal employment for women employed in informal paid work. He encouraged facilitating women’s entrepreneurship, including by improving access to financing and investment opportunities, tools of trade, business development and training.
The different interventions focused on the ways of developing microfinance institutions and overcome the challenges faced by OIC member countries, especially the G5 Sahel Countries, as well as reviewing the best regional and international experiences in this field, which contributes to enhancing their role in financing the targeted groups and activating entrepreneurs` role, besides discussing ways of achieving digital transformation in financial inclusion and microfinance to serve the goals of sustainable development.
It is worth mentioning that this new partnership with ICCIA is the second strategic partnership that WDO is creating with its OIC sister affiliated organs of the OIC after its strategic partnership with the IsDB which was launched mid-December 2021.