THE AUSTRALIAN mission in the Philippines on Tuesday launched its new phase of its “Investing in Women” initiative to boost women’s economic development.
“Ensuring women have opportunities to engage equitably in the workforce provides great economic and social dividends,” said Australian Deputy Head of Mission Moya Collett during the launch at a hotel in Makati City.
“According to a 2018 study by McKinsey & Company, advancing gender equality in the Philippines, across all socio-economic groups, could see annual Gross Domestic Product growth by up to 7%,” she said.
The new phase of Investing in Women will build on its prior accomplishments, while also strengthening the evidence base and driving collective action to inform policy reforms that support women’s equal economic participation, specifically related to care work.
Since 2016, Investing in Women financed P199.51 million in 34 women-led and owned small and medium enterprises, used P624.89 million in private investment, and established the Philippine Business Coalition for Women’s Empowerment.
These women-led businesses trained over 300 female smallholder farmers, about 3,000 female agri-distributers, and 557 female teachers.
Investing in Women, an initiative by the Australian Government, aims to accelerate women’s economic empowerment by promoting gender equality, enabling policy reforms, supporting local campaigns, and investing in women-owned businesses. — Chloe Mari A. Hufana
