The African Development Bank (AfDB) says it has so far disbursed $1 billion to women-led enterprises as part of the bank’s efforts to bridge the financing gap among women entrepreneurs.

The Director General, AfDB, Nigeria Country Department, Dr. Abdul Kamara made the disclosure in Abuja yesterday at the High-Level Dialogue on Investment in Gender Equality and Ending Violence Against Women for Rights and Development organised in partnership with the United Nations Women (UN Women)

He said “The AfDB seeks to bridge the financing gap of $46 billion currently hindering women from accessing financing for their businesses. As part of the efforts, the bank has disbursed $1 billion to different women led businesses in Nigeria and parts of the continent to empower them and boost their businesses, thereby contributing to economic growth 

“Subsequently, all our products and policies in Nigeria are targeted towards gender inclusivity for women and youths to boost market access and skills, which is why recently, we launched a $100m youth entrepreneurship investment fund for Nigeria,” he highlighted.

• Nigerians seeking insurance tailored to their needs – Expert
• World leaders react to Israel-Hezbollah ceasefire

Also speaking, the Country Representative for United Nations Women in Nigeria, Beatrice Eyong noted that the conversation to advance women growth and development has advanced in Nigeria with both national and subnationals showing commitment.

She said “We have always advocated for a gender responsive budgeting that will factor in the rights and empowerment of women, especially in the area of 35 per cent affirmative action and the efforts Nigeria is putting in the implementation of its National Gender Policy

“Already, Kaduna State has adopted a procurement policy, which gives women opportunity to access 30 per cent of public contracts in the state and Lagos State will be next,”