Access to finance for women: Business companies from the South Caucasus discuss good practices

UN Women continues to support companies in the South Caucasus that are signatories to the United Nations Women’s Empowerment Principles (WEPs), providing them with a platform for sharing best practices and experiences.

This platform includes working meetings held annually for representatives of the private sectors of Armenia, Azerbaijan and Georgia. The meeting held in Tbilisi on 18 and 19 June aimed to strengthen the capacity of financial institutions to integrate gender-responsive approaches into their business strategies, products and services, thereby contributing to sustainable success.

Over the course of two days, participants discussed increasing women’s access to finance and creating equal opportunities. They learned about the concepts of gender-responsive and sustainable finance, practical tools and successful examples, including programmes supporting women entrepreneurs, gender-responsive financial products and other inclusive mechanisms.

An important part of the event was when the participants shared their experiences and practical steps they have taken to advance women and support their economic empowerment. The meeting was attended by 20 representatives of 18 leading companies in the financial sector. Among them was Mahbuba Ziyatli, Director of Yelo Bank’s Human Capital Management Department.

“The experience gained here has once again convinced me that gender equality is not only a matter of social responsibility but also an important prerequisite for sustainable business success,” Mahbuba noted after the meeting. “I look forward to applying the knowledge I have gained to strengthen inclusive human resources practices within our organization and to support women’s leadership.”

One of UN Women’s priorities is to build a sustainable business community in the South Caucasus that supports the WEPs and advances gender equality. In addition, regular workshops will enable private sector representatives to strengthen their networks, identify opportunities for cooperation and take concrete joint steps towards women’s empowerment.

The meeting was held within the framework of the UN Women regional project “Women’s Economic Empowerment in the South Caucasus”, implemented with the generous financial support of the Swiss Agency for Development and Cooperation (SDC) and the Austrian Development Agency (ADA). The event was also part of UN Women’s programme “Women’s Increased Leadership for Resilient and Peaceful Societies”. Funded by the Ministry of Foreign Affairs of Denmark, the programme is implemented by UN Women country offices in Georgia, the Republic of Moldova and Ukraine, with the support of the UN Women Regional Office for Europe and Central Asia.