Women entrepreneurs represent a massive trillion-dollar economic opportunity, yet systemic barriers often hinder their growth. CARE USA, supported by the Mastercard Center for Inclusive Growth, has successfully implemented programs like Ignite and Strive Women to address these challenges in countries such as Pakistan, Peru, and Vietnam. Through Ignite, CARE unlocked $154.9 million in loans and supported over 150,000 entrepreneurs, primarily women.
Key strategies from the Ignite program include:
1.Holistic support models: Combining tailored financing, skills training, and addressing the gender digital divide.
2.Diverse local partnerships: Collaborations with banks, microfinance institutions, and fintechs to expand outreach and diversify services.
3.Women-centric product design: Tailored products, such as flexible loans in Peru, designed to solve unique challenges like cash flow management and co-signer requirements.
Looking ahead, the Strive Women initiative will address issues such as childcare, time poverty, and green business opportunities. CARE emphasizes measuring holistic financial health, incorporating metrics like time use and stress levels, to ensure meaningful and lasting impact for women entrepreneurs.
