UN Women estimates that during the first month of the pandemic, informal workers lost an average of 60 percent of their income: with losses as high as 81% in sub-Saharan Africa and Latin America. In low-income countries pre-pandemic, just one in four businesses were owned by women, and their access to financial products and services was often limited – even though …
Lessons in innovative financing for creating employment in the Middle East and North Africa
Background Emerging market economies face a significant credit gap and access to finance is considered the biggest obstacle for enterprises. Banks have been the traditional source of funding, but the financial crisis has led banks to be even more reluctant, which is creating an active debate about the importance of broadening the range of funding options available beyond banks. Such …
Using technology to enhance youth employment in the Middle East and North Africa
Challenges in context According to an Oxfam report, half a billion people could be pushed into poverty by COVID-19. The International Labour Organisation (ILO), warned that the crisis is expected to wipe out 6.7% of working hours globally in the second quarter of 2020. The situation has directly hit the Middle East and North Africa (MENA) Region. Export, travel, transportation …