Cairo, Egypt, December 15, 2020— IFC signed a partnership agreement today with the American Chamber of Commerce in Egypt (AmCham Egypt) to help Egyptian companies create more flexible and inclusive workplaces. The partnership is part of a broader effort to support the country's private sector as it navigates the COVID-19 pandemic while at the same fostering and reinforcing equal opportunities for women in the workplace
Under the initiative, IFC will launch a peer learning platform that brings together Egyptian companies to exchange knowledge on best practices in creating more flexible and inclusive workplaces. Under the platform, IFC and AmCham will conduct a variety of knowledge-sharing activities, including hosting a series of webinars, where CEOs and human resource directors representing more than 950 AmCham-member companies, and members of the business community will share knowledge on ways to better support female and male employees.
The series will focus on topics such as mental health in the workplace, the importance of the provision of childcare services, and the value of flexible work policies. IFC together with AmCham will invite prominent national and international experts in the relevant fields to address these sessions and build the case for the benefits of the adoption of these policies on overall productivity, with the ultimate goal of creating more employment opportunities, especially for women. This is particularly important given the fact that women have been disproportionately impacted by job losses during the COVID-19 crisis. Prior to the pandemic, according to the ILO, women represented only 23 percent of Egypt's workforce, which is among the lowest rates in the world.
"Fostering and reinforcing equal opportunities for women in the workplace is one of the strategic priorities of the AmCham Women in Business Committee," said AmCham Egypt CEO, Sylvia Menassa. Our partnership with IFC will help reduce Egypt's gender gap, which has been exacerbated by the COVID-19 pandemic, and will support the sustainable growth of the Egyptian economy."
Through the partnership, IFC and AmCham will showcase the benefits of creating flexible and family-friendly workplaces, demonstrating to businesses how they can benefit from tapping into Egypt's underutilized pool of female workers.
The agreement is part of IFC's Egypt Women's Employment Program, which aims to help firms close the gap between men and women in the workforce. It is being implemented in partnership with the government of the Netherlands.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
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About AmCham Egypt:
The American Chamber of Commerce in Egypt (AmCham Egypt), established in 1982, is an affiliate of the U.S. Chamber of Commerce in Washington D.C. AmCham connects more than 1900 senior executives representing Egyptian companies with business interests in the United States and American and multinational companies doing business in Egypt. AmCham serves its members by advocating on their behalf for a favorable business environment, promoting trade and investment, and fostering a socially responsible business environment. AmCham produces a wide variety of research publications and offers numerous business services and training programs to its members as well as to the business community at large. AmCham is a founding member and the permanent secretariat of the AmCham MENA Regional Council. For more information, visit: www.amcham.org.eg
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