IFC and MI-BOSPO Report Shows Women Entrepreneurs in Bosnia and Herzegovina Face Challenges
In Washington, D.C.:
Katia Theriault
Phone: +1 202 458 4662
Email: ktheriault@ifc.org
Washington, D.C., October 2, 2008—A
new report from IFC, a member of the World Bank Group, and MI-BOSPO, a
leading micro-credit organization in Bosnia and Herzegovina, has found
that the number of women entrepreneurs in that country is growing despite
challenges involving licensing, taxation, labor, and access to finance.
The report, “Voices of Women Entrepreneurs in Bosnia and Herzegovina,”
is being released today. It documents the challenges faced by women entrepreneurs
in the country, and highlights the success stories of women who overcame
those obstacles. The report aims to inform policy makers on the issues
and provide role models for aspiring women entrepreneurs.
Women make up nearly 52 percent of the country’s working-age population,
but their labor-force participation rate is only 43 percent, according
to the report. Few women own businesses, although they show a growing interest
in business. Women account for 58 percent of students of business management
in the country.
Zouera Youssoufou, head of IFC’s Gender Program, said “the importance
of women’s entrepreneurship and its contribution to economic growth is
being increasingly recognized around the world. Boosting female entrepreneurship
in Bosnia and Herzegovina by tackling the main issues identified in the
report will help a well-educated and underutilized talent pool participate
in the country’s economic growth.”
Alma Bijedic, MI-BOSPO Marketing Manager, said that “when we asked women
what inspired them to start businesses, they said it was to contribute
to the household, to have something of their own, to have their own money,
to be successful and respected. MI-BOSPO can help them meet their objectives
by providing access to finance that otherwise would be unavailable.”
“In Bosnia and Herzegovina, we are constantly looking for better ways
to integrate women in the economy” noted Dr. Bisera Turkovic, the Ambassador
of Bosnia and Herzegovina to the United States. “The report provides useful
information as well as inspiration for young women who are just starting
out in their professional life in a challenging post-conflict environment.”
The report is part of an IFC investment and technical-assistance program
designed to strengthen MI-BOSPO's position as a financial service provider
to help economically empower women in Bosnia and Herzegovina.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $16.2
billion in fiscal 2008, a 34 percent increase over the previous year. For
more information, visit www.ifc.org
and www.ifc.org/gender.
About MI-BOSPO
MI-BOSPO is a leading micro-credit organization in Bosnia and Herzegovina
targeting women. The organization’s mission is to economically empower
women, led by the belief that the economically empowered woman can better
influence social change and contribute to a better quality of life within
the family. MI-BOSPO provides hope and encouragement to the 30,000 women
entrepreneurs that are MI-BOSPO’s clients. For more information: www.mi-bospo.org.
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