Brave Women $50,000 Entrepreneurship Grant is an Initiative (We-Fi) is a multi-donor fund currently being administered by the World Bank under the Business Resilience Assistance for Value-Added Enterprises (BRAVE) Women Program designated Islamic Development Bank Group (IsDBG) as one of the Implementing Partners (IPs) to support in the implementation of projects.
The BRAVE Women Program is a 5-year multi-donor fund implemented in Yemen, Nigeria, and Burkina Faso. On 1st April 2020, the Islamic Development Bank Group (IsDBG) signed the Framework Agreement with the Federal Republic of Nigeria (represented by the Federal Ministry of Finance) regarding the support in the implementation of the Business Resilience Assistance for Value-Added Enterprises (BRAVE) Women Nigeria Program. Bank of Industry (BoI) was assigned as the Local Execution Agency (LEA) of the USD14.27 million.
BRAVE Women Program focuses on developing and increasing the economic opportunities for female entrepreneurs through skills training aimed at business viability (i.e., profitability) in targeted country-specific value chains. It will enhance the bankability, entrepreneurial, and market development skills of female-owned/led Small and Medium Enterprises (SMEs) critical to sustainable local growth and job creation. Furthermore, it will promote pro-poor growth by targeting the value chain in the market segments and sectors where most of the poor earn their living and tackle gender disparities in economic opportunities by targeting women entrepreneurs. BRAVE Women Program fully aligns to We-Fi strategic objectives to:
- Promote female-owned/ led MSMEs to increase their opportunities for business growth through the facilitation of direct and indirect investments. Additionally, improve their entrepreneurial ecosystem and business formation and growth through business resiliency capacity building, support to market development, a matching grant facility, and business coaching support.
- Specifically help address the drivers of fragility through inclusive and equitable access to employment and improve institutional financing capacity to create sustainable and profitable economic opportunities.
- Specifically improve the MSMEs capacity to develop economically viable and financially sustainable business proposals through competitive and demand-driven approaches to business financing.
- Fill an existing gap in access to food security, health services, primary education, and job opportunities for women.
- Enhance the resilience of Micro, Small & Medium Enterprises (MSMEs) owned/managed by women in fragile context as potential engines for innovation, employment, and improved quality of life.