Gender parity in jobs could lift GDP by 34%, Egypt’s Al-Mashat at EBRD Meeting
Egypt’s Planning Minister Rania Al-Mashat said closing the gender gap in the labour market could boost Egypt’s GDP by 34 per cent, calling the economic inclusion of women a strategic priority for sustainable growth.
Speaking at the European Bank for Reconstruction and Development’s (EBRD) 34th Annual Meeting and Business Forum, Minister Al-Mashat emphasised that empowering women-led businesses is not a luxury but a necessity. She pointed to Egypt’s efforts to expand access to finance and technical assistance through national platforms like Hafiz, which connects female entrepreneurs with advisory services, funding options, and risk-mitigation tools.
Investment in women delivers returns for the entire economy, said Minister Al-Mashat said during a panel on transforming financial systems to support female founders. The session also featured EBRD President Odile Renaud-Basso and Central Bank of Montenegro Governor Irina Radović.
The Egyptian minister underscored the role of small and medium-sized enterprises (SMEs) in driving inclusive growth, citing World Bank findings that innovation and entrepreneurship are key to helping middle-income countries escape economic stagnation.
The minister also addressed the intersection of gender and climate finance, noting that while women are often more vulnerable to climate shocks, many pioneering environmental solutions have come from female innovators. Women are not just victims of climate change—they are also agents of change, she said.
The EBRD’s 34th Annual Meeting and Business Forum is taking place in London from May 13 to 15 under the theme Expanding Horizons, Enduring Strengths.
Attribution: Amwal Al Ghad English
AfDB 2023