Enhancing Women Enhancing Women EntrepreneurshipEntrepreneurship

Chikako KunoChikako Kuno

Chair EBRD Gender Steering GroupChair EBRD Gender Steering Group

ObjectiveObjective

Increase the economic participation and decision-making roles of women in the private sector.

Gender and EBRDGender and EBRD

Gender equality is an important component of the development and transition process

Part of the Millennium Development Goals

EBRD is committed to expanding opportunities for women and promoting gender equality

Impact of transition on women has varied by country and by issue-area

MDG3 Champion Torch HandoverMDG3 Champion Torch Handover

Change in labour force participation rates, 1989-

2005

-30-25-20-15-10

-505

10

Men

Wo

men

Men

Wo

men

Men

Wo

men

Impact of transition:Impact of transition:labour market “separation”labour market “separation” Women’s labour

participation declined at the start of the transition, but has since recovered

Women now have lower unemployment rates than men, except in CIS+M

Women are more in favour of state involvement, particularly in the social arena

Women tend to be less satisfied with their lives CEB SEE CIS+M

Source: World Development Indicators 2006

Impact of transition:Impact of transition:Labour market “separation”Labour market “separation”

-30

-25

-20

-15

-10

-5

0

5

10

Cze

ch R

ep.

Est

on

ia

Hu

ng

ary

Lat

via

Lit

hu

ania

Po

lan

d

Slo

vak

Rep

.

Slo

ven

ia

Alb

ania

Bo

snia

an

dH

erz.

Bu

lgar

ia

Cro

atia

FY

RM

aced

on

iaR

om

ania

Ser

bia

an

dM

on

t.

Arm

enia

Aze

rbai

jan

Bel

aru

s

Geo

rgia

Kaz

akh

stan

Kyr

gyz

Rep

.

Mo

ldo

va

Mo

ng

oli

a

Ru

ssia

Taj

ikis

tan

Tu

rkm

enis

tan

Ukr

ain

e

Uzb

ekis

tan

Men Women

Change in percentage points

Source: World Development Indicators 2006

Impact of transition:Impact of transition:Wage equality has diminishedWage equality has diminished

More wage inequality in less advanced transition countries

Wage differentials between men and women have increased

Differences cannot be easily explained by job type or productivity

Gender discrimination is evident from quantitative and qualitative studies

Sweden

UKFrance

USA

Italy

Slovenia

Kyrgyz Rep

Moldova

Mongolia

Hungary

Uzbekistan

FYRM

Romania

Slovak R.

Albania

Kazakhstan

BulgariaCzech Republic LatviaPoland

Croatia

RussiaEstonia

Georgia

Ukraine

Lithuania

0.45

0.55

0.65

0.75

0.85

0.95

0.45 0.55 0.65 0.75 0.85 0.95

Wage Equality

Labour Force Participation

Impact of transition:Impact of transition:Quality of employment has changedQuality of employment has changed

Women have moved into unpaid caring professions

More women are in white collar than blue collar professions

Many women have become self-employed, partly out of necessity

There are still fewer female than male entrepreneurs

Impact of transition:Impact of transition:Access to financeAccess to finance

More female managers have difficulty securing a bank loan

Female managed firms charged higher interest rates in some countries

Financial development may lead to lower levels of gender bias in bank lending

More needs to be done to understand constraints and opportunities for female entrepreneurship

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Alba

nia

Arm

enia

Azer

baija

n

Belar

us BiH

Bulg

aria

Croa

tia

Czec

h Rep

ublic

Esto

nia

FYRM

Geor

gia

Hung

ary

Kaza

khsta

n

Kyrg

iz

Latv

ia

Lith

uani

a

Mol

dova

Polan

d

Rom

ania

Russ

ia

Serb

ia an

d Mon

teneg

ro Slov

ak

Slov

enia

Tajik

istan

Ukra

ine

Uzbe

kista

n

female male

Share of businesses without a bank loan

Source: BEEPS, 2005

Objectives pursued withObjectives pursued withthe GAPthe GAP

Empower women (on boards, at work, in society)

Leverage the EBRD’s effectiveness in working with private sector

Seek opportunities - with staff & clients - to produce positive outcomes in the area of gender

Effectively mainstream gender into the EBRD’s operations

Integrate women as:

Decision-makers Workers Beneficiaries of

growth

The Bank todayThe Bank today

New Environmental and Social Policy– incorporates gender

Demonstration

Banking operations– Small Business Finance

– Corporate Governance Boards

– Infrastructure (MEI)

– Training

TAM/BAS Advisory

Boards (Investee Companies, Boards (Investee Companies, Financial Institutions)Financial Institutions)

Bank’s nominee directors are women in 112 (41%) out of 275 approved Supervisory Board seats.

High women representation

Recognising WomenRecognising Women

• Bank is developing a focussed initiative on women

• Annual Meeting Women in Business Panel

• Recognising outstanding women

• Focuses upon the operations and its implementation located in Banking

Women in Business - Award Winners 2009Women in Business - Award Winners 2009

Nejira Nalić of Bosnia and Herzegovina, founder of MI-BOSPO, a Nejira Nalić of Bosnia and Herzegovina, founder of MI-BOSPO, a microcredit organisation providing financial services to low-microcredit organisation providing financial services to low-income women entrepreneurs wins Financial Institutions Awardincome women entrepreneurs wins Financial Institutions Award

Business case for expanding Business case for expanding economic opportunities for womeneconomic opportunities for women

The business case is made in practice in SEE

More gender equality is associated with faster and more sustainable economic growth

Empowerment of women can lead to better governance

Gender equality taps the full labour pool, can lead to market expansion and better management practices

Lets work together to build success