: Mastercard, USAID to launch ‘Project Kirana’ for women owned & operated stores #FinanceIndia #StockMarketNEWS Mastercard, USAID to launch ‘Project Kirana’ for women owned & operated stores

@StockMarketNEWS Thu 19 Nov, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Mastercard, USAID to launch ‘Project Kirana’ for women owned & operated stores #FinanceIndia #StockMarketNEWS
Mastercard, USAID to launch ‘Project Kirana’ for women owned & operated stores New Delhi, Nov 19 (KNN) In a bid to address gender inequality which limits women-owned businesses’ ability to launch, grow, and thrive, the Mastercard and the United States Agency for International Development (USAID) have partnered under the Women’s Global Development and Prosperity Initiative (W-GDP) to launch Project Kirana.

Project Kirana will work to increase revenue streams, expand financial inclusion and digital payments adoption of kirana shops that are owned or operated by women, an official statement from the Mastercard said on Thursday.

The two-year program will be implemented by DAI and ACCESS Development Services in select cities of Uttar Pradesh, including Lucknow, Kanpur and Varanasi. The program will focus on:

Building financial and digital literacy skills on topics such as banking, digital payments, saving, credit and insurance; Improving basic business management skills including inventory management, accounting, budget management and customer loyalty; and Addressing cultural and other barriers to women becoming successful kirana entrepreneurs; including outreach to men, family members, and the community.

“Creating equal opportunities for women in business is not only a question of gender equality but also an economic priority. At Mastercard, we believe in levelling the playing field for women entrepreneurs. We work towards democratizing access to financial and digital services and establishing and broadening networks among small business owners. It becomes imperative to help women unlock their potential, strengthen their skills and enhance their participation in business,” said Alison Eskesen, Vice President, Mastercard Centre for Inclusive Growth.

“By joining forces with USAID, Mastercard is determined to strengthen the entrepreneurial ecosystem as well as support the aspirations of women entrepreneurs in India,” She further added.

“This partnership between USAID and Mastercard is a great example of the US government’s commitment to collaborating with the private sector in achieving sustainable development outcomes, such as the global women’s economic empowerment”, states Karen Klimowski, Acting USAID/India Mission Director.

“USAID will leverage our technical expertise and convening power in India to help bring more women into the formal economy, especially the digital economy, as we believe economically empowered women reinvest in their families and communities, spur economic growth, and ultimately help communities in our partner countries to progress on their journey to self-reliance,” Klimowski asserted.