Angelovska Bezhoska meets Todorova: Financial education and inclusion as a way to improve the position of women in economy and society

Skopje, 1 April 2024

Educating women about socio economic rights, opportunities and creating business ideas, plans, as well as financial opportunities to use domestic and European funds, are a significant step towards reduction of the gender gap in the society and economy. The financial education and financial inclusion of women are ranked among the policies that need to be implemented in the country to reduce gender inequality in several fields, in order to provide an overall economic progress. This was pointed out at the meeting between the Governor Anita Angelovska Bezhoska and the president of the National Council for Gender Equality (UWOM), Savka Todorova. To achieve faster and better results, the cooperation between institutions and non-governmental sector is of key importance.

"The goal of the National Bank is to strengthen the basic skills and key competences of women through financial literacy and financial inclusion, which will increase their financial knowledge, and access to finance so they can effectively be involved in economic activities. One of the parameters for financial inclusion of women is the proportion of women and men that own account in financial institutions, with the data showing that 80% of women have an account against 90% of men, while in Europe there is no difference between the male and female population in this part. In the domestic banking system, 62% of the total value of the loan portfolio belong to men, while only 38% to women. For this purpose, the National Bank started with the implementation of the project, supported by the European Bank for Development and Reconstruction to support female entrepreneurship and financial inclusion of women entrepreneurs. The project aims to provide better access of women entrepreneurs to finance, as well as to increase the awareness gender equality significance when granting loans", pointed out Angelovska Bezhoska.

Further cooperation was also discussed at the meeting in order to further increase the general awareness about the significance of the greater economic inclusion of women and the opportunities it brings.