Outcome PNG_D_2.2

Socio-economic security of urban and rural women improved

Following the impact of COVID on market vendors incomes in 2020, UN Women working alongside BSP, Women’s Microbank, MiBank and independent local trainers have been offering a range of services from training, financial advisory services and microfinance in 13 markets across the country. The skills training was aimed at improving their income levels through diversified economic activities. UN Women end line assessment revealed that 43.5 per cent market vendors reported that their income returned to where it was before the COVID – 19 level and 43.8 per cent experienced an increase in daily sales. 56 per cent of market vendors reported that they had savings. Partnering with financial institutions has extended the reach of the investment. There is still a challenge in accessing capital and equipment’s to expand women’s business as many do not have bank accounts nor do they have savings or equity to secure loans. UN Women partnered with UNCDF to leverage on its products for financing micro-entrepreneurs. However, delays in contracting of their local implementing partners has prevented the roll out of the finance component. UNCDF aims to commence this work in 2022.

Socio-economic security of urban and rural women improved

During the reporting period, UN Women improved women market vendors social and economic wellbeing through financial literacy training, and loans to start their businesses. Market vendors' voice was amplified by supporting the the full registration of 11 provincial markets vendors associations. UN Women in partnership with UNCDF provided loans to 160 women (40 Goroka, 40 Lae, 40 Vanimo, 40 Gordons) to start their businesses. The women further opened bank accounts with Women's Micro Bank Limited (WMBL), Mi Bank, Bank of South Pacific. UN Women designed a participatory curriculum for low literacy women and rolled this out in 7 locations.