Women entrepreneurs to get support from ILO and J.P. Morgan
ILO and J.P. Morgan begin new initiative to assist women entrepreneurs
MANILA – An 18-month project called “Rebuilding Better: Fostering Business Resilience Post COVID-19” was launched today by the International Labour Organization and J.P. Morgan for women entrepreneurs in Malaysia, the Philippines and Thailand. Businesswomen hoping to recover from the pandemic and build long-term business resilience will receive support from the latest joint initiative.
In a statement, the ILO said the project targets small businesses owned by women in the manufacturing, service and retail trade sectors in urban areas, most of which have been hard hit by COVID-19 restrictions and the economic downturn.
The project will utilize digital tools to enhance women entrepreneurs’ access to critical support services, including financial resources, training, market information and networks.
In a virtual event attended by women entrepreneurs where they shared experiences how they adapted to unexpected circumstances during the pandemic, from shifting from physical stores to online platforms, to adopting agility and flexibility in their business plans that proved important in dealing with the crisis.
“We have seen the COVID-19 pandemic exacerbate existing inequalities in Asia as well as globally. With the new Rebuilding Better project, ILO, in partnership with J.P. Morgan, will contribute to a more equitable, gender-responsive and inclusive recovery in Southeast Asia,” Graeme Buckley, Director of ILO Decent Work Technical Support Team for East and Southeast Asia and the Pacific. She is also the country officer for Thailand, Cambodia and the Lao People’s Democratic Republic.
Helping women entrepreneurs recover from the pandemic is an important part of inclusive economic growth and building resiliency in various communities for the long term.
“We are excited to partner with ILO on this new initiative that addresses inequality challenges in the business environment across the ASEAN region.The pandemic has dramatically changed business models and we want to help women entrepreneurs pivot towards sustainable business operations with a focus on innovation and digitalization.An economy that is fair is good for the communities we serve, our employees and our business; this conviction is reflected in how J.P. Morgan does business everyday,” said Murli Maiya, J. P. Morgan CEO for South and Southeast Asia.(Me