Bank of America is no stranger to helping women entrepreneurs grow and thrive. Through partnerships such as the Global Ambassadors Program and the Tory Burch Foundation Capital Program, we’re working to advance women small business owners around the world. After all, women make up more than half of Bank of America’s global workforce alone.
That’s why we’ve partnered with The Institute for Economic Empowerment of Women (IEEW). This new program will aim to support women entrepreneurs in Rwanda and Afghanistan to grow their business and strengthen their communities. Since its inception 10 years ago, IEEW’s PEACE THROUGH BUSINESS® program has graduated more than 600 women entrepreneurs in those areas.
As part of the program, Bank of America and IEEW will provide recipients with one-on-one mentoring on how to grow their business. Additionally, new trainees attend the PEACE THROUGH BUSINESS® training boot camp to discuss topics like applying for loans, human resources best practices and other important business skills. Bank of America experts provide their own unique financial management expertise to help coach the women entrepreneurs on specific business goals and challenges.
“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.” said Andrea Smith, Chief Administrative Officer, Bank of America.
Most importantly, IEEW has a proven track record of success. Since they 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.
“Bank of America’s global financial focus is critical to PEACE THROUGH BUSINESS®'s mission of empowering women economically, socially and politically,” said Dr. Terry Neese, founder and CEO, IEEW. “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.”
Through this partnership and others, women’s economic empowerment continues to be a driver of economic growth around the world that Bank of America is committed to support.