Institute for Economic Empowerment of Women & Bank of America Announce Partnership to Advance Women Entrepreneurs in Rwanda &...
May 05 2016 - 11:00AM
Business Wire
The Institute for Economic Empowerment of Women (IEEW) and Bank
of America today announced a partnership to support women
entrepreneurs in Rwanda and Afghanistan.
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Since its inception 10 years ago, more than 600 women
entrepreneurs from Rwanda and Afghanistan have graduated from
IEEW’s PEACE THROUGH BUSINESS® program. The initiative
provides training, strategic planning support and mentorship to
equip women to grow their businesses and strengthen their
communities. Since the program launched, 80 percent of the women
are still in business today, creating 13,000 jobs that preserve and
bring sustainable and profitable businesses to their communities,
advancing economic growth and stability in these regions.
“Women’s economic empowerment is a driver of economic growth
around the world that we are committed to support,” said Andrea
Smith, chief administrative officer, Bank of America. “Partnering
with IEEW is another great example of how we’re able to invest
directly in the women entrepreneurs who are doing so much to create
opportunity for themselves and their communities.”
In addition to receiving one-on-one mentoring, new trainees will
attend the PEACE THROUGH BUSINESS training boot camp in Dallas July
10–16. There, they will receive instruction on topics including
applying for loans, human resources best practices and other
important business skills. At the training, Bank of America will
provide financial management expertise to help coach the women
entrepreneurs on specific business goals and challenges.
“Partnering with Bank of America during our 10th year of global
impact provides us with the financial engine to assist more women
entrepreneurs in Afghanistan and Rwanda,” said Dr. Terry Neese,
founder and CEO, IEEW. “Their global financial focus is critical to
PEACE THROUGH BUSINESS's mission of empowering women economically,
socially and politically, and their extensive experience in raising
the status of women through similar partnerships offers new
opportunities for women around the world and the organizations that
serve them. We are proud to welcome Bank of America to our
team.”
Bank of America’s partnership with IEEW is just one example that
demonstrates the company’s ongoing commitment to women’s economic
empowerment and leadership through external partnerships and
internal programs for women employees including:
- Earlier this week, Bank of America was
recognized as a leader in the first Bloomberg Financial Services
Gender-Equality Index (BFGEI), reinforcing the company’s position
as a global leader in gender equality and supporting women in the
workplace.
- In partnership with the Tory Burch
Foundation Capital Program, Bank of America provided capital for
more than $10 million in affordable loans to nearly 450 women
business owners since 2014, and announced an expansion of $20
million over the next two years. These loans are administered
through Community Development Financial Institutions in each of the
program’s markets.
- To create economic opportunity for
women entrepreneurs around the world, Bank of America partners with
Vital Voices and the Cherie Blair Foundation to connect nearly
2,000 women entrepreneurs from more than 80 countries with mentors
– 200 of whom are mentored by Bank of America employees.
About IEEWThe Institute for Economic Empowerment of Women,
started in 2006, is an Oklahoma City based 501(c)3 non-profit with
a mission to empower women to grow their businesses, pursue greater
entrepreneurial ventures and become more active public policy
advocates. The Institute accomplishes this mission by focusing on
education, mentorship and coaching women in the United States and
abroad who are seeking to acquire entrepreneurial skills to help
start and grow a business. IEEW works with a network of mentors,
corporate sponsors, and private donors across the United States to
accomplish its work. To learn more visit our website.
About Bank of America Environmental, Social and GovernanceAt
Bank of America, we are focused on Environmental, Social and
Governance (ESG) factors as critical to fulfilling our core purpose
of making people’s financial lives better. A commitment to growing
our business responsibly is embedded in every aspect of our
company, from our policies and practices to our services, products,
governance and employee benefits. An important part of that
commitment is forming strong partnerships across sectors, including
nonprofit organizations serving community needs, bringing our
collective networks and expertise to achieve greater impact. We’re
proud of our employees’ volunteer efforts, support of diversity and
inclusion, and environmental and social responsibility. Across our
company, we’re focused on simplifying banking and investing,
advancing better money habits and making an impact in communities
around the world. Learn more
at www.bankofamerica.com/about and follow us on Twitter
at @BankofAmerica.
Visit the Bank of America newsroom for more Bank of America
news, and click here to register for news email alerts.
www.bankofamerica.com
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version on businesswire.com: http://www.businesswire.com/news/home/20160505006101/en/
Reporters May Contact:Britney Sheehan, Bank of America,
1.425.533.4531britney.w.sheehan@bankofamerica.comChristine
Eddington, IEEW, 1.405.517.3303ceddington@ieew.org
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