Minister of Investment and International Cooperation Sahar Nasr announced an agreement to establish a fund for the economic empowerment of women in collaboration with the World Bank and the G20-Africa Partnership, supported by G20 president Angela Merkel, during the Women20 (W20) summit in Berlin. Egypt will be one of the fund’s member countries.
The G20-Africa Partnership aims to establish a partnership between African states, some of the G20 member countries, and the World Bank in order to attract investors from outside the African continent.
The main goal of W20 is to promote women’s economic empowerment as an integral part of the G20 process. This year’s summit was attended by German chancellor Angela Merkel; Dina Powell, senior adviser to the US president for economic initiatives; Ivanka Trump, daughter of the US president and senior White House official; and Christine Lagarde, director of the International Monetary Fund (IMF).
The summit discussed ways to improve the economic situation of women and give them more opportunities in the labour market and ensure greater representation in leadership positions, according to Nasr.
Economic empowerment of women should be achieved by cooperation between governments and international financing institutions, adding that women have a positive role in the development of society, and should have equal opportunities to work and start projects that express their ideas.
Moreover, a meeting between Nasr and Powell took place to follow-up on the outcome of what has been agreed upon at the economic level during Al-Sisi’s visit to the US. Nasr and Powell discussed strengthening relations with regards to economic cooperation and investment. Powell confirmed the full support of the American administration to Egypt.
Furthermore, Nasr emphasised the ministry’s keenness to provide equal investment opportunities for women, such as providing the necessary funding for projects that support women breadwinners in various villages and provinces.
The minister added that these projects are small and micro-sized projects that contribute to the economic and social empowerment of women and provide them with equal opportunities in the lab or market. She continued, stating that the ministry also works to quickly provide investment incentives that encourage and attract private sector investors to participate in different areas of economic activity.