Watch CIPE’s Google Hangout on women’s entrepreneurship, which discusses BWCCI’s work.
While still a poor country, Bangladesh is an economic success story in terms of its economic outlook and expanded employment opportunities for women. In recent years, economic growth has averaged 6 percent annually and a vibrant, export-oriented garment sector has generated employment opportunities for urban women. Bangladesh has achieved food self-sufficiency and significantly reduced poverty, “putting the country on track to achieve most of the Millennium Development Goals.”
CIPE began working with the Bangladesh Women’s Chamber of Commerce and Industry (BWCCI) in 2006 with two objectives in mind. First, CIPE would provide training and technical assistance to the board and staff to ensure that the chamber focused on member needs and attained financial sustainability by growing its dues-paying membership. Second, CIPE encouraged BWCCI to shift from training individual entrepreneurs to pursuing policy advocacy to remove legislative and regulatory barriers to the equal participation of women in the economy.
BWCCI’s work expanding economic opportunities for women and promoting greater involvement of women in the policymaking process strengthens participatory democracy. Women comprise more than half the population and women-owned businesses generate employment and contribute to Bangladesh’s economic growth. Addressing the specific policy concerns of female entrepreneurs expands the inclusiveness of the democratic process and enhances female representation in the country’s economic and political institutions.
BWCCI has achieved remarkable success in terms of organizational development and policy advocacy. The chamber membership has increased its membership to 3,500 throughout several national branches, has held its first board elections, and continues to engage with members through a variety of channels.
On the policy front, BWCCI developed the inaugural Women’s National Business Agenda (WNBA), which proposed 30 reform recommendations aimed at improving the entrepreneurial environment for women business owners. Policy achievements included the Central Bank of Bangladesh issuing instructions to commercial banks to increase lending to women-owned businesses, including collateral-free loans at a reduced interest rate. So far, $93 million in SME loans have been provided to almost 10,000 women, creating thousands of jobs.
More than 65 percent of Bangladeshi banks have “dedicated desks” for women borrowers, staffed with specially-trained personnel who can address their needs and ease the business procedures for women. Read more about the remarkable story of BWCCI in empowering women economically here.
Teodora Mihaylova is Research Coordinator at CIPE.
Published Date: November 19, 2014