Enhancing Women Economic Participation in Egypt Project (IFC-605118)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 30, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Egypt
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 29, 2022

Disclosed by Bank Aug 30, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the Project aims to support the government of Egypt introducing greater equality in women's participation in the economy, through suggesting legislative reforms in two areas of access to finance and equal pay for work of equal value, with the overall goal of increasing women's economic participation. The project also aims to support dissemination and raising awareness of the reforms to encourage full engagement of women in economic activities.

Following the legislative reforms, the project expects to support an increase of credit volume granted to women and an increase of equality and reduced discrimination in workplace – as measured by resolved grievance cases/complaints related to equality and non-discrimination, equal pay for work of equal value and related to issues of discrimination in workplace.

The pilot project will:

1. Support the Government of Egypt in implementing legislative reforms supporting women’s participation in the economy by: 1) enhancing the existing grievance mechanism for women to file complaints related to of equal pay for work of equal value and non-discrimination in access to finance; 2) support the implementation of legislative reforms through drafting guidelines to be used by all financial institutions in the application of the principle of non-discrimination based on gender in access to finance as well as the implementation of equal pay for work of equal value,

2. Support the dissemination of the enacted reforms on equal pay for work of equal value and non-discrimination in access to finance by 1) conducting dissemination workshops with relevant stakeholders; 2) supporting the Egyptian authorities with a communication and dissemination campaign related to raising the awareness on legal reforms.

3. Measure results on the ground for the achieved reforms. The team will also conduct surveys and focus group discussions with women and other key stakeholders (employers, banks, etc.) to identify the potential impact of the legal changes on women’s ability to engage in income generating activities and explore additional areas to support measuring results.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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*Contact information not provided at the time of disclosure*

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ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

How it works

How it works