On 30 September 2021, the EBRD GEFF Gender component held an online event, “An Inclusive Green Economy for Armenia: Strengthening Women and Men-led MSMEs for a Sustainable Future”, in its efforts to contribute to an inclusive economy development in Armenia, and to support PFIs in developing their green portfolios and empower MSMEs to seek greener and more inclusive development paths.
After a warm welcome by GEFF in Armenia Deputy PM Andro Butkhuzi, Dimitri Gvindadze, Head of the EBRD in Armenia, and Nina Kolybashkina, Senior Social Development Specialist at the Climate Investment Fund (CIF), presented the development and transition to a green economy in Armenia. EBRD´s Associate Director for Gender & Economic Inclusion, Sunita Pitamber, closed the workshop’s session.
Mariam Kobalia, EBRD’s Gender & Economic Inclusion Policy Lead for the Caucasus, moderated the first panel discussion, which included representatives from the public policy-making space: Diana Harutyunyan (UNDP Armenia), Natalya Harutyunyan (UNDP Armenia), Astghine Pasoyan (Foundation to Save Energy NGO), and Rouben Osipyan (SME Cooperation Association). The discussion highlighted the importance of acknowledging how climate change affects women and men differently, undertaking data collection and analytical efforts to identify key challenges for women-owned or women-led businesses, and what viable green solutions could be applied. It is clear that dedicating resources to women is a rewarding investment.
GEFF Gender Finance Expert, Lilit Gharayan, moderated the second panel discussion, enabling a highly productive dialogue with Zara Gharagyozyan (R2E2), Ara Makarayan (ArmSwissBank), Lilit Martirosyan (Inecobank), and Vahagn Shmavonyan (ACBA Leasing). The discussion focused on climate change impact on business operations and productivity and the lack of awareness of green technologies among potential investors. Since women are more risk-averse, the panel drew attention to the focus on financial literacy to support women in making informed decisions regarding green measures. There was also an emphasis on supporting capacity building at local, regional and rural levels, organising information campaigns and expanding programmes sponsored by international donors and agencies.
In addition, the GEFF Gender component experts presented the key findings of the Gender Baseline Assessment on gender, climate change, and green finance in Armenia. The survey of businesses led by both women and men in crucial MSME sectors vulnerable to climate change underlined that:
More than 90 people, including representatives from MSMEs and international organisations, programme representatives and industry professionals, attended the event.
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