Five ways UN Women is accelerating women’s economic empowerment in Europe and Central Asia – UN Women Europe and Central Asia

Report on UN Women’s Initiatives for Economic Empowerment in Europe and Central Asia

This report outlines the strategic initiatives undertaken by the UN Women Regional Office for Europe and Central Asia to advance women’s economic empowerment. These efforts directly contribute to the achievement of several Sustainable Development Goals (SDGs), including SDG 1 (No Poverty), SDG 2 (Zero Hunger), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 10 (Reduced Inequalities), and SDG 17 (Partnerships for the Goals). The initiatives address systemic barriers such as poverty, food insecurity, and discrimination, which disproportionately affect women in the region.

1. Promoting Women’s Entrepreneurship and Economic Growth (SDG 5, SDG 8)

A key strategy involves fostering an entrepreneurial ecosystem for women through innovative programming. The Women’s Entrepreneurship EXPO, a flagship initiative launched in collaboration with partners under SDG 17, serves as a central platform for this objective.

• Since 2021, the EXPO has engaged over 5,000 women entrepreneurs from 22 countries.
• It has delivered over 150 virtual bootcamps in 10 languages, covering essential business skills to support decent work and economic growth (SDG 8).
• The initiative cultivates a community for collaboration, peer learning, and skills-building, directly advancing gender equality (SDG 5).
• Through partnerships with over 110 local entities, including UN agencies, the private sector, and civil society, the program has expanded to include in-person events in more than 10 countries, demonstrating a strong commitment to SDG 17.

2. Institutionalizing Gender Equality through Responsive Budgeting (SDG 5, SDG 10)

UN Women has supported the implementation of Gender-Responsive Budgeting (GRB) to ensure public finance mechanisms actively promote gender equality and reduce inequalities (SDG 10). This has yielded measurable results in the Western Balkans, benefiting over 200,000 women.

1. Albania: GRB has been institutionalized across 11 ministries, with over 9% of the 2025 draft budget allocated to gender-responsive initiatives. This includes direct cash assistance and housing subsidies for vulnerable women, addressing SDG 1, and employment promotion programs where nearly 80% of women job seekers retained employment, supporting SDG 8.
2. Kosovo:¹ GRB has been integrated into 16 municipal budgets, funding childcare subsidies, services for domestic violence survivors, and digital skills training for women farmers and entrepreneurs. These investments support women’s labor market participation (SDG 8) and overall gender equality (SDG 5).
3. Serbia: GRB is utilized as a key tool for inclusive economic growth (SDG 8). Nearly 2,000 women entrepreneurs have received financial support and mentorship, enabling them to overcome market barriers and expand their participation in the formal economy.

3. Leveraging Private Sector Partnerships for the Goals (SDG 17, SDG 8)

Strategic collaborations with the private sector are critical to achieving the SDGs. A partnership established in 2022 with Yıldız Holding exemplifies this approach.

• Yıldız Holding invested over $4 million to support women entrepreneurs in the region.
• The collaboration focuses on creating market opportunities and building gender-responsive, inclusive supply chains.
• This initiative directly accelerates women’s entrepreneurship and contributes to sustainable economic growth (SDG 8) through a powerful multi-stakeholder partnership (SDG 17).

4. Enhancing Financial Inclusion and Market Access (SDG 5, SDG 8, SDG 10)

To address barriers in the financial sector, UN Women is working to empower institutions and markets to better serve women, thereby reducing inequalities (SDG 10) and fostering economic empowerment (SDG 8).

• A design-thinking workshop was held for financial institutions from Albania, Ukraine, and Uzbekistan to develop gender-sensitive products, such as tailored business loans and credit cards for women entrepreneurs.
• In partnership with the UN Sustainable Stock Exchange initiative and the International Finance Corporation (IFC), regional workshops were conducted for 107 participants from stock exchanges across nine countries to integrate gender equality principles (SDG 5) into capital markets.

5. Informing Policy through Data and Collaboration (SDG 5, SDG 17)

Evidence-based advocacy is advanced through strategic partnerships and research. A Memorandum of Understanding with Eurochambres facilitates closer collaboration in supporting women in business.

• A joint survey conducted with the Eurochambres Women Network captured the realities of women entrepreneurs across Europe.
• Key findings highlight persistent challenges, including work-life balance and a reliance on personal savings for business financing, indicating a critical gap in financial access.
• The data underscores the importance of supportive networks, providing crucial insights for developing targeted policies that advance gender equality (SDG 5).

¹ References to Kosovo should be understood to be in the context of UN Security Council Resolution 1244 (1999).

Analysis of Sustainable Development Goals in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 1: No Poverty

  The article directly addresses poverty, stating that in the Europe and Central Asia region, “poverty affects more women than men in most countries, particularly rural women, older women, single mothers, and women heading households.” Initiatives like providing “direct cash assistance for women heads of households” and “housing subsidies for vulnerable women” in Albania are direct responses to this issue.

• SDG 2: Zero Hunger

  The article highlights food insecurity as a gendered issue, noting that in 2021, “women [were] more likely to be affected than men” by moderate or severe food insecurity. It also describes support for “women farmers and aspiring women entrepreneurs” in rural areas through tailored advisory services and subsidies, which contributes to improving food production and security.

• SDG 5: Gender Equality

  This is the central theme of the article. The entire text focuses on UN Women’s work to advance “gender equality and women’s rights.” Key initiatives include promoting women’s entrepreneurship through the Women’s Entrepreneurship EXPO, implementing Gender-Responsive Budgeting (GRB) to align public spending with gender equality goals, and partnering with the private sector to create inclusive supply chains.

• SDG 8: Decent Work and Economic Growth

  The article is heavily focused on promoting women’s economic empowerment. It details efforts to “catapulting women’s entrepreneurship,” support women business owners, and improve women’s participation in the labor market. Examples include business development training in Serbia, employment promotion programs in Albania, and developing gender-sensitive financial products like business loans for women entrepreneurs.

• SDG 10: Reduced Inequalities

  By focusing on the economic empowerment of women, who are identified as a group facing “deep-rooted barriers, including poverty, discrimination, and exploitation,” the article addresses the goal of reducing inequalities. The initiatives aim to bridge the economic gap between men and women and ensure the inclusion of vulnerable groups like rural women and women heads of households.

• SDG 17: Partnerships for the Goals

  The article repeatedly emphasizes the importance of collaboration. It details partnerships between UN Women and various entities, including the European Bank for Reconstruction and Development, Yıldız Holding, local municipalities, other UN agencies, the International Finance Corporation (IFC), and Eurochambres, to achieve its goals for women’s empowerment.

2. What specific targets under those SDGs can be identified based on the article’s content?

1. Target 1.3: Implement nationally appropriate social protection systems and measures for all, including floors, and by 2030 achieve substantial coverage of the poor and the vulnerable.

   This target is addressed through Albania’s implementation of “direct cash assistance for women heads of households” and “maternity and parental leave payments,” which are forms of social protection aimed at vulnerable women.

2. Target 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women… through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets and opportunities for value addition and non-farm employment.

   The support provided to “hundreds of women farmers and aspiring women entrepreneurs” in Albania and Kosovo, including “tailored advisory services,” “subsidies,” and “digital innovation training,” directly aligns with this target of increasing productivity and income for women in agriculture.

3. Target 5.a: Undertake reforms to give women equal rights to economic resources, as well as access to ownership and control over land and other forms of property, financial services, inheritance and natural resources, in accordance with national laws.

   The article describes initiatives aimed at improving women’s access to financial services, such as developing “gender-sensitive financial and non-financial products for women, such as business loans with lower interest rates for women entrepreneurs.” The support for nearly 2,000 women entrepreneurs in Serbia with “financial support, mentorship, and improved access to public procurement” also contributes to this target.

4. Target 5.c: Adopt and strengthen sound policies and enforceable legislation for the promotion of gender equality and the empowerment of all women and girls at all levels.

   The implementation of Gender-Responsive Budgeting (GRB) in Albania, Kosovo, and Serbia is a clear example of a policy tool being used to promote gender equality. The article notes that in Albania, “gender considerations [are] now embedded across 11 ministries and 26 institutions,” demonstrating the strengthening of policies at a national level.

5. Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services.

   The Women’s Entrepreneurship EXPO, which has engaged over 5,000 women entrepreneurs, and the support for nearly 2,000 women entrepreneurs in Serbia are direct actions that promote entrepreneurship and the growth of women-led businesses, aligning perfectly with this target.

6. Target 8.10: Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all.

   The design-thinking workshop for financial institutions from Albania, Ukraine, and Uzbekistan, which provided “practical tools to create gender-sensitive financial and non-financial products for women,” is a direct effort to strengthen the capacity of these institutions to serve women entrepreneurs and improve financial inclusion.

7. Target 17.17: Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships.

   The article is built around examples of such partnerships, including the collaboration with the private sector (Yıldız Holding), public institutions (European Bank for Reconstruction and Development), and civil society organizations (Eurochambres) to deliver programs like the Women’s Entrepreneurship EXPO.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, the article provides several quantitative and qualitative indicators that can be used to measure progress:

• Number of women entrepreneurs engaged: “So far, the EXPO has engaged over 5,000 women entrepreneurs from 22 countries.”
• Number of women receiving financial support: “In Serbia… nearly 2,000 women entrepreneurs have accessed financial support.”
• Number of women benefiting from employment programs: “In the area of employment [in Albania], over 1,300 women and girls… have benefited from promotion programs.”
• Employment retention rate: “Nearly 80% of women job seekers retained employment after program completion” in Albania.
• Public funds allocated to gender equality: Albania’s 2025 draft budget allocates “over 9% of total public spending to gender-responsive initiatives.”
• Private sector investment: “Yıldız Holding invested over $4 million to support women entrepreneurs.”
• Institutional adoption of gender-responsive policies: “Kosovo has successfully integrated GRB into 16 municipal budgets.”
• Access to finance barrier: The survey finding that “75% of respondents relied on personal savings to launch their businesses” serves as a baseline indicator for the challenge of accessing external financing.
• Number of partnerships: The EXPO was supported by “more than 110 local partners.”

4. Table of SDGs, Targets, and Indicators

Source: eca.unwomen.org