Credit Guarantee Fund under BRICS to finance women entrepreneurs

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BRICS Women’s Business Alliance (WBA) Annual Report 2021 has highlighted Food security, Healthcare, Inclusive economy, Environmental Safety, Creative Industries, Tourism, Innovative Development and Public Policy as key areas to boost the participation of women in the economy in BRICS countries. BRICS WBA have 25 Women Leaders which include 5 each nominated from the BRICS countries.

The report highlights that a corpus for agile, tech savvy financial institutions is required to enable them structure products focused on women entrepreneurs principally in rural areas. As per this report, a financial literacy virtual tool kit designed for SHGs, NGOs and social change agents is being designed to train small entrepreneurs and rural women to help them in strengthening their business management, growth and capability.

In the aftermath of COVID pandemic, Care Economy has acquired major importance and turned out to be an important area of collaboration through knowledge sharing among BRICS countries. The report further states that ‘Healthcare’ has been brought at the center-stage by the pandemic. To strengthen the healthcare it is required to focus on point of care and remote care through Artificial Intelligence and Big Data besides establishing Command-Centres for patient centered delivery of healthcare.

Moreover, the necessity of setting-up a BRICS Venture Fund for the digital companies run by Women under the aegis of New Development Bank.The five key areas of focus include healthcare, inclusive economy, innovative development, environmental safety, creative industries and tourism, besides food security.

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