The partnership between Danida, US ministry of Foreign Affairs and the investment bank Goldman Sachs aims to promote growth in Tanzania by giving women entrepreneurs access to education and loans. Danish Minister for Development Cooperation says Denmark wants “women to be in a position, where they can exercise their rights and utilize their true economic potential”.
Minister for Development Cooperation, Mr. Christian Friis Bach (first from right), Wednesday 14 December signed a partnership with the US ministry of Foreign Affairs and the investment bank Goldman Sachs. The partnership goes hand in hand with the Goldman Sachs programme “10,000 women” that aims to educate 10,000 women entrepreneurs from developing countries in basic business skills in order to control a small business. Studies show that eighteen months after graduation, nearly 80 per cent of surveyed scholars have increased revenues and more than 60 per cent have added new employees. In Tanzania, more than 100 women will graduate from 10,000 Women programme implemented by the University of Dar es Salaam Business School. After graduation Danida, through CRDB Bank in Tanzania, facilitates access to finance for the women, who have sustainable business ideas.
The announcement of the partnership was made at the World Bank headquarters in Washington. Robert B. Zoellick, President of the World Bank Group praised the initiative: “Gender equality is smart economics. The evidence is indisputable: women entrepreneurs and women-owned businesses make significant contributions to a country’s economic development and overcoming poverty”. He went on to say that “initiatives such as this new public-private partnership help unleash the potential of women entrepreneurs and will make a real difference in the lives of women and their families in developing countries.”
The project is aiming for women in development countries in general but starts off with a pilot-phase in Tanzania. If the project proves successful, it will be enlarged to include more countries.