Ulaanbaatar
Women Entrepreneur Growth Fund Program Launched in Mongolia
Politics
Ulaanbaatar, February 6,
2023 /MONTSAME/. At the initiative of Minister of Foreign Affairs of
Mongolia B. Battsetseg, “Promoting and Upscaling Digital Solutions for Enhancing Women Enterprise Growth and Resilience” program supported by
the United Nations Economic and Social Commission for Asia and the Pacific
(UNESCAP) and Women Enterprise Recovery Fund, is going to be implemented in
Mongolia for the first time.
In
connection with this funding program, the International Women's Federation of
Commerce and Industry (IWFCI) in Mongolia held a press conference on February
3, 2023. Under the program, 3-4 successful applicants or teams will receive MNT
200 million. In other words, the best project proposals with innovative
digital solutions submitted by the applicants or companies will be selected and
entitled to receive up to USD 10 thousand in co-funding. However, the funding
will vary depending on the type of solution, scope, and amount of the required
investment.
O.
Baigal, President of the IWFCI Mongolia, said, “Enterprises sending their
project proposals to this program are not required to be led by women or have
women employees. However, they must propose digital solutions to support women
enterprises economically impacted by COVID-19 and to address their financial
and other business requirements.” IWFCI is a non-profit, non-government,
member-based organization. It was established with the purpose of supporting
women entering the business and developing trade across the globe in 1992, in
Melbourne, Australia, while IWFCI Mongolia was founded in 2017. As
an organizing body of the program, IWFCI Mongolia will start accepting
applications on February 6, 2023.
