Visa Reaffirms Commitment to Economic Empowerment of Women in Latin America, Caribbean

Through its support for the new Inter-American Development Bank program " Growing Together in the Americas", Visa seeks to promote the economic recovery of women entrepreneurs in the region and continue to create more equitable and inclusive opportunities.

The Inter-American Development Bank, in collaboration with Visa and other private sector leaders, launched “ Growing Together in the Americas, ” a program that seeks to empower women entrepreneurs in Latin America and the Caribbean to be integrated into foreign trade and regional value chains. The program, designed as a result of the COVID-19 pandemic to promote the recovery of the region, will provide through Mujeres ConnectAmericas , technical assistance to micro, small and medium-sized enterprises (MSMEs) to promote inclusive economic reactivation, generate more and better employment, and reducing gender gaps.

Women play a fundamental role in the global economic recovery and now more than ever they are setting their own path. At Visa, we believe that we can all contribute to building a more inclusive and equitable world that empowers everyone, everywhere. Visa is committed to addressing the challenges women face, helping them achieve their dreams and continuing to create more equitable opportunities, as well as closing the digital divide and helping to develop more contacted digital economies.

“Visa relies on the power of women entrepreneurs who lead MSMEs to drive inclusive economies for everyone, everywhere. We joined the IDB and Mujeres ConnectAmericas to promote the “Growing Together in the Americas” program, an initiative with a bold purpose and exponential reach for our region, ”said Silvia Constaín, head of government relations for Visa Latin America and the Caribbean . "We reaffirm our commitment to work together and continue to support the growth and success of women-led MSMEs with new solutions, tools, perspectives and opportunities to help them finance, manage and expand their businesses."

The Executive Vice President of the IDB, Reina Mejía Chacón, launched the program during the IDB's Annual Meeting of Governors , held on March 18. “This program is the result of a collaborative process with the businesswomen who are already part of the ConnectAmericas Women network. On the other hand, the technical assistance offered will be accompanied by mentoring from successful businesswomen and industry experts. We are convinced that these mentorships will be a powerful tool to promote the vision of businesswomen, improve the competitiveness of their companies and generate a multiplier effect in their communities ”, said Mejía Chacón.

“At the IDB, we consider it vital to strengthen women-led or women-owned MSMEs in Latin America and the Caribbean to close gender gaps, support their participation in foreign trade, and strengthen their capacity to insert themselves into regional value chains. It is our responsibility to empower women entrepreneurs so that they continue to be engines of economic reactivation and job creation, ”said Jessica Bedoya, Chief of Staff and Executive Advisor to the Office of the Presidency of the IDB.

Commitment to your growth

"Growing Together in the Americas" seeks to collectively support companies led by women in three main areas: the development of capacities and productive improvements to facilitate their insertion in foreign trade and value chains; the use and adoption of information and communication technologies for the transformation and optimization of its business processes; and improving the financial management of their companies to facilitate their access to financing.

“Growing Together in the Americas” will be jointly managed by the Integration and Trade Sector and the Social Sector of the IDB, through the Mujeres ConnectAmericas initiative, the online business platform developed by the Bank, with the support of several multinationals , to connect women entrepreneurs with real business opportunities and offer them innovative tools to improve the management of their companies. The program builds on what has been achieved by the IDB's # 100kChallenge , a campaign that seeks to connect, train, and certify more than 100,000 women entrepreneurs in Latin America and the Caribbean before the end of 2021.

Visa has a sustained commitment to empowering women through partnerships, programs, and sponsorships. For more information regarding some of our latest initiatives, visit: Visa Powers a New Decade of Women's Empowerment , Visa Everywhere Initiative.

March 26, 2021