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KATHMANDU: Global Equity Fund and USAID Trade and Competitiveness today jointly launched the Nepal Women Growth Equity Fund, Nepal's first fund focused on women entrepreneurs.
The fund will unlock investment opportunities for women and increase women's access to financial services to enable them to grow their businesses.
"This event is a perfect example of how the US Government partners with the private sector to foster entrepreneurship and economic growth in Nepal," said the US Chargé d'Affaires Jason Meeks. "The Nepal Women Growth Equity Fund will help address the systemic challenges that are faced by the women entrepreneurs in accessing financing," he added.
Women entrepreneurs face multiple complex barriers to start and operate businesses, but one persistent barrier is limited and unequal access to capital. To overcome this, the Global Equity Fund through the Nepal Women Growth Equity Fund will raise and mobilise Rs 500 million investment ($3.5 million). It will increase women entrepreneurs' access to growth capital, build their capacity, and foster linkages to domestic and global markets. The fund is expected to support over 10,000 direct and indirect jobs.
Chairman of Nepal Private Equity Association, Siddhant Raj Pandey, appreciated the partnership between the Global Equity Fund and USAID Trade and Competitiveness. Pandey remarked, "This initiative will provide great support to women-led enterprises to diversify their service offerings and improve their productivity, making them market leaders."
As Nepal recovers from the economic impacts of Covid 19, increased accessibility and availability of diversified financial resources for small and medium enterprises is critical- especially for women. The Nepal Women Growth Equity Fund will help address this need to create a vibrant and resilient investment ecosystem where women can participate and realize their full economic potential.
