Mastercard joins IDB to encourage women entrepreneurs in LAC

By Pavithra R

Mastercard has announced joining Inter-American Development Bank and other companies from the private sector in the “Women Growing Together in the Americas”, a program to encourage women entrepreneurs in LATAM and the Caribbean to integrate their businesses into foreign trade and regional value chains.

The program comes in the wake of the COVID-19 pandemic as a specific action to contribute to the socio-economic recovery of LATAM and the Caribbean. The program aims to provide technical assistance to micro, small and medium-sized enterprises (MSMEs) led by women through ConnectAmericas for Women to foster inclusive post-pandemic economic reactivation, generate more and better employment, and reduce gender gaps. The program also engages with other potential private sector partners and welcomes additional expressions of interest.

“This program is the result of a collaborative process with women entrepreneurs who are already part of the ConnectAmericas for Women network. Furthermore, the technical assistance offered will be accompanied by mentoring, both from successful entrepreneurs and from industry experts. We are convinced that these mentorships will be a powerful tool to boost the vision of women entrepreneurs, improve the competitiveness of their companies, and thus, have a multiplier effect in their communities,” said Reina Mejía Chacón, Executive Vice President of the IDB.

The “Women Growing Together in the Americas” program is to be jointly managed by the IDB’s Integration and Trade and Social Sectors through the ConnectAmericas for Women initiative, to connect women entrepreneurs with real business opportunities and provide them with innovative tools to enhance their business management.

“When women are marginalized, the vitality of economies is put at risk, as households lose half of their income-generating capacity,” says Kiki del Valle, Executive Vice President, Market Development, Latin America and the Caribbean, Mastercard.