CÔTE D'IVOIRE: WeFi, THE WEST AFRICAN SUMMIT FOR WOMEN'S ENTREPRENEURSHIP

On the occasion of the First Regional Summit of the Women Entrepreneurs Finance Initiative (We-Fi), organized by the We-Fi Initiative in collaboration with the African Development Bank, the Islamic Development Bank and the of the World Bank, heads of state, ministers, heads of multilateral development banks, executives from the private sector, women entrepreneurs and representatives of countries contributing to the Initiative met to consider concrete measures to support small and medium-sized enterprises led by women in West Africa. Under the high patronage of the Government of the Republic of Côte d'Ivoire, the Summit, which brought together more than 400 public and private leaders from West Africa and other regions, resulted in a joint call for action to encourage all actors to quickly initiate reforms and far-reaching measures aimed at helping women entrepreneurs to dismantle the persistent obstacles, financial and otherwise, to their activity. Among others: - improving women entrepreneurs' access to financial services, public procurement and infrastructure supporting the digital economy. - Advocate for the rapid removal of obstacles to women's work and mobility and for equal property rights - Strengthen the role of women entrepreneurs, private actors and civil society organizations for the acquisition of digital skills, access to support systems and business networks. - Communicate more effectively on data, public and private, disaggregated by sex in order to better measure the impact of the reforms undertaken on women entrepreneurs. Regarding this initiative, which is in line with the actions of the Ivorian government, President HE Alassane Ouattara, President of the Republic of Côte d'Ivoire declared: quotI am delighted that Côte d'Ivoire is hosting the first Regional Summit of the Women Entrepreneurs Finance Initiative (We-Fi). Women play as crucial a role as men in the growth of our economy. I am convinced that this summit will lead to concrete actions that will increase economic opportunities for women entrepreneurs in West Africa. » In April 2018, the World Bank Group and the Islamic Development Bank received funds under the first round of We-Fi Initiative allocations to support small and medium-sized enterprises led or owned by women, very numerous on the African continent. The first round of allocations, of $120 million, is expected to leverage more than $1.6 billion in additional financing from the private sector, donors, governments and other development partners.