EIB has either put in place, or is currently planning, a number of intermediated credit facilities to cover the financial needs of private enterprise across Sub-Saharan Africa through approved local financial intermediaries. They include (i) banks engaged in financing private businesses; (ii) banks engaged in financing microfinance institutions (MFIs); (iii) MFIs financing microenterprises; and (iv) microfinance investment vehicles (MIVs) and other equity funds indirectly financing microenterprises and SMEs. The proposed TA operation will contribute to the overall objective of EIB credit lines to enhance access to finance to private enterprises in Sub-Saharan Africa. It will particularly focus on addressing the credit gap for women-owned or led enterprises and fostering women entrepreneurship.
The purpose of the TA operation is to support women's economic empowerment in Sub-Saharan Africa by increasing access to finance and providing wider capacity building support to women entrepreneurs in selected countries. The TA operation will i) facilitate women entrepreneurs' access to financial services through capacity building, mentoring, and networking activities, and ii) provide support to existing or potential EIB financial intermediaries clients in designing, establishing and actively promoting financial services better tailored to the needs of women entrepreneurs. The TA operation will therefore bridge the gap between capacity building to women entrepreneurs and improving the supply of financial and non-financial services responding to their needs.
Reducing the financing gap faced by women entrepreneurs will have wider positive effects on economic growth, job creation, and poverty reduction. The achievement of the overall objective will in turn contribute to the realisation of the Sustainable Development Goals (SDGs), particularly goal 5 on gender equality and goal 8 on economic growth, and to the EIB Group Strategy on Gender Equality and Women's Economic Empowerment.