The National Bank and EBRD work together to facilitate access to finance for women entrepreneurs

The National Bank and the European Bank for Reconstruction and Development (EBRD), through the Women Entrepreneurs Finance Code in the country, are striving to increase financial inclusion of women entrepreneurs by carrying out activities that facilitate access to capital, support the development of skills and knowledge, as well as monitoring trends through statistical data. As part of the EBRD mission for the implementation of the Code in our country, the National Bank Governor Anita Angelovska Bezhoska and her team welcomed the EBRD team led by Fatih Turkmenoglu, Country Head for Macedonia at the EBRD.

The purpose of this mission is to identify opportunities for providing relevant data as a basis for analyzing gender gaps in access to finance among micro, small and medium-sized enterprises and to increase awareness of the support that the Code provides to all relevant institutions in the country. The meeting also referred to strengthening the process of joining the efforts of regulators and financial service providers in order to expand financing opportunities for women entrepreneurs.

„The National Bank has been actively working on educating users of banking services, contributing to better access to finance for all entities, including women entrepreneurs. Financial education of women, as well as financial inclusion of small and medium-sized enterprises are part of the activities included in the Strategy for Financial Education and Financial Inclusion. Besides, the National Bank will struggle to enrich statistics on access to finance for women-led business", noted Governor Anita Angelovska Bezhoska.

„We are delighted to collaborate with the National Bank on advancing the Women Entrepreneurs Finance Code in the country. This initiative underscores our commitment to enhancing financial inclusion for women entrepreneurs through tailored support and access to capital. By joining forces with National Bank, we aim to foster an environment where women-led businesses thrive, driving economic growth and promoting gender equality", said Turkmenoglu, Head of EBRD office in Macedonia.

The Women Entrepreneurs Finance Code has been applied and supported in about 30 countries around the world. The goal is to establish a coordinated implementation of the Code, engaging as many regulators as possible - regulators, financial service providers and other partners, who will work together to build a national infrastructure for providing data and analysis of gender financial inclusion, as well as expanding the range of financial products offered to women entrepreneurs.

The National Bank and EBRD teams declared that their common goal is to strengthen support for women-led businesses and promote gender equality, which will contribute to increasing financial inclusion, opening of new businesses and jobs, as well as driving economic growth.