Skopje, 8 March 2024 (MIA) — Considering that women entrepreneurs have a significant role in creating jobs and driving economic growth, the National Bank will coordinate the implementation of a European Bank for Reconstruction and Development project aimed at supporting female entrepreneurship and the financial inclusion of women entrepreneurs, National Bank Governor Anita Angelovska Bezhoska said in a recent interview.

According to the central banker, the EBRD project aims to facilitate female entrepreneurs' access to finance as well as to increase awareness of the importance of gender equality in granting loans.

"According to estimates, greater women's participation in entrepreneurship could increase global economic growth by 5 to 6 trillion dollars," Angelovska Bezhoska said. 

"Providing access to finance for these small and medium-sized enterprises is extremely important for the entire economy. Promoting financial inclusion as well as financial education as the basis for greater inclusion are some of the National Bank's strategic goals," she said.

She added that educating women on the possibilities and obligations of lenders and borrowers would provide the country's businesswomen with greater access to finance.

Angelovska Bezhoska pointed out that greater inclusion of women in business would bring numerous benefits. However, she added, there were many challenges as well, given that the participation of women in the workforce was about 43 percent (and of men about 62 percent). She said this showed a great untapped potential for increasing economic growth. 

According to the National Bank governor, to increase the number of women in management, society needed to develop greater awareness and provide more support, which she said would lead to greater benefits.

"The 2023 Global Gender Gap Report showed that out of 146 countries, we ranked 108th when it comes to women's economic participation and opportunities," she said. 

According to the report, Angelovska Bezhoska said, the percentage of women-owned companies or companies with women in leadership positions was only about 20 percent.

The situation in the financial sector was similar, she noted. "In banks, only 31 percent of the total number of Management Board and Supervisory Board members are women. In some banks, there are no women in management at all," the governor said.

Angelovska Bezhoska also said the National Bank was an excellent example of gender equality, having been recognized several times for its participation of women in management positions by the Official Monetary and Financial Institutions Forum. mr/