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NBC-Ministry of Women Affairs team to promote financial education for females

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NBC workshop to promote female entreprenuers. Photo supplied

NBC-Ministry of Women Affairs team to promote financial education for females

In a joint effort, the National Bank of Cambodia and the Ministry of Women’s Affairs will collaborate to promote financial literacy among women through a strategic partnership.

Both parties will implement a wide-scale programme related to finance education and financial inclusion to empower women, which could help uplift their socio-economic status.

The central bank and the ministry will sign a memorandum of understanding (MoU) on April 23, which will outline the mechanism to jointly carryout their programmes.

Some of the salient points of the memorandum are:

• The MoU will provide the cooperative framework to improve financial inclusion via integrating financial literacy among women.

• By improving financial literacy among women, more female entrepreneurs are expected to be created and increase their contribution to the Kingdom’s socio-economic development

• NBC and the ministry agreed to cooperate on improving female financial inclusion via embedding financial literacy in female entrepreneurs, both women and girls. They will also initiate girl entrepreneurship programmes in secondary and high schools so they are well equipped with proper living skills.

The Ministry of Women’s Affairs has been drafting the Neary Rattanak Strategy 5 (2019 -2023) aimed at promoting gender equality and female empowerment.

In the strategic plan, the priority is to enhance economic empowerment and strengthen entrepreneurship for women, including increased possibilities to access the financial services for women in developing their businesses and enterprises.