RBF, UN arm unlock capital for womenpreneurs

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and Reserve Bank of Fiji (RBF) this week formalised their collaboration through a Memorandum of Agreement to support a number of activities outlined under the Fiji National Financial Inclusion Strategy (NFIS) 2022-2030.

The partnership will specifically focus on research, policy dialogue, special projects and advisory services designed to facilitate innovative financial services for women entrepreneurs in Fiji undertaken as part of ESCAP’s Catalysing Women Entrepreneurship Programme.

For the first time, the new NFIS is harmonised with the United Nations’ Sustainable Development Goals, with a strengthened focus on vulnerable communities, women, youth, and people with disabilities.

The new strategy has four thematic areas: inclusive finance, digital financial services, MSME finance, and consumer protection and financial capability.

Armida Salsiah Alisjahbana, Under-Secretary-General of United Nations and Executive Secretary of ESCAP said: “Through the work undertaken with this Agreement, our two agendas will unite to advance the achievement of the Sustainable Development Goals with the primary focus on innovative finance for the women entrepreneurs of Fiji. Across the various workstreams under the NFIS, there is also a central recognition that women are a driving force in the entrepreneurial space and thus, the pursuit of equal access will only enhance the overall economic picture in Fiji.”

Reserve Bank of Fiji Governor Ariff Ali said: “Collaboration is at the heart of furthering RBF’s development initiatives including advancing the national financial inclusion agenda under the new NFIS.

“Our partnership with United Nations ESCAP reaffirms this position as we refocus our efforts on assisting women entrepreneurs through research, dialogue and policy actions.

“I wish to thank United Nations ESCAP’s leadership for this opportunity and we look forward to a successful partnership through this Agreement.”