The United Nations Development Programme (UNDP) and UN Women have announced a joint investment of $1.7 million to support Afghan women entrepreneurs.
UNDP said in a report on Sunday, September 27, that the initiative, titled the Afghanistan Women’s Fund for Resilient Enterprises (AWFRE), will support around 1,500 women entrepreneurs over the next year.
According to the report, the initiative is expected to indirectly benefit more than 14,000 people by strengthening businesses and increasing household incomes.
The fund will provide Sharia-compliant financing without requiring collateral, along with financial and digital literacy training, advisory services, business planning and support to access markets.
Under the initiative, more than 10,000 Afghan women currently hold business licenses, a figure that has increased tenfold over the past five years.
The two organizations are also seeking to raise an additional $10 million to expand the program.
If the additional funding is secured, around 10,000 more women entrepreneurs will receive financial resources and business support.
