The Minister of International Cooperation Rania al Mashat said the main objective of the IFC program is to encourage private sector businesses to better engage women in the job market, thus boosting economic growth in Egypt.
IFC will team up with an Egyptian business association to set up a peer-learning platform. This will help raise awareness, share knowledge, and improve women’s access to job opportunities, according to the statement which did not disclose the name of the association.
The program will also be implemented in partnership with the government of the Netherlands, the statement said.
Upon the new program, more flexible workplaces will be developed for women to help Egyptian firms become more resilient and inclusive, especially in times of crises, the minister said.
Al Mashat stated, “Egypt is the first country in the Middle East and Africa to launch the Closing the Gender Gap Accelerator, a private public platform for collaboration to reach gender parity, with the World Economic Forum.”
State-run Banque Misr, retailer Metro Markets, and healthcare provider IDH are among other companies involved in the program.
IFC, which is a member of the World Bank Group, signed an agreement with Egypt’s largest microfinance organization Tanmeyah earlier this year.