ITFC joins forces with ITC to launch SheTrades initiative in Egypt

Cairo – Mubasher: The International Islamic Trade Finance Corporation (ITFC) has partnered with the International Trade Center (ITC) to launch the Women in Global Trade: SheTrades initiative in Egypt, according to a press release on Monday.

The initiative aims to endorse women entrepreneurs’ export capacity under the Aid for Trade Initiative for Arab States (AfTIAS) programme, by connecting 3 million female business owners to markets by the end of 2021. It also covers areas of export readiness and market access. 

Rolled out under Egypt’s national vision to implement the UN Global Sustainable Development Goals (SDG), SheTrades will focus on increasing the participation of 50 small and medium women-owned enterprises in the export-oriented value chain.

The initiative will provide the women with training in production, packaging, logistics, trade information, quality management, marketing, and sales for a specific sector.

“According to a McKinsey Global Institute report, $28 trillion could be added to global [gross domestic product] GDP by 2025 by advancing women’s equality,” said CEO of ITFC Hani Salem Sonbol.

Egypt’s Minister of Planning and Economic Development, Hala El-Said, meanwhile commented: “Egypt’s total cooperation portfolio with the International Islamic Trade Finance Corporation amounts to $12.5 billion, underscoring the value of this partnership.” 

The Economic Research Forum previously noted that having equal opportunities for men and women in accessing the labour market could yield a 34% increase in Egypt’s GDP.

Mubasher Contribution Time: 21-Jun-2021 12:31 (GMT)
Mubasher Last Update Time: 21-Jun-2021 12:31 (GMT)