African Women Set Eyes on Region’s Financial Market

Participants of the first African Women’s Economic Summit held in Nairobi, Kenya, agreed to push for increased access by women to various financial services and more women involvement in the region’s financial sector.

African Development Bank President Donald Kaberuka made several commitments in line with these goals. These include pledges to hold a forum on gender equality and women’s empowerment on the sidelines of the bank’s May 2010 annual meetings in Ivory Coast, continue providing financial and technical support to the African Women’s Economic Summit, fast-track the mainstreaming of gender equality policies within the bank, and ensure the acceleration of the USD300 million funding for the proposed Africa Guarantee Fund.

Kaberuka also promised to increase the number of women professionals in AfDB and submit a report on the summit to heads of multilateral banks and members of the Committee of Ten, which is tasked to monitor the effects of the financial crisis on African countries.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.