IFC to fund training for higher female participation in Sri Lanka’s retail supply chains
ECONOMYNEXT- The International Finance Corporation (IFC), a part of the World Bank Group, said it will be funding a 478,149 US dollar advisory project to increase female participation and leadership in retail supply chains.
The program, named ‘WomenRetailerDev’, will provide training to 357 distributor operation owners and contributors, and 4,500 retail owners and employees selling fast moving consumer goods (FMCG).
The training, which will run up to May 2022, will focus on business and financial management, financial literacy and digital payments.
Of the businesses selected, 258 are women owned or managed distributors. In retail stores, 1,350 will be female owners, managers and employees.
Ceylon Biscuits Limited, one of the country’s two largest biscuit makers that has a local supermarket chain, will be providing training to distributors and retailers which sell its (and other branded) FMCG products through the IFC program.
By the end of the project, IFC is hoping to double female leadership and employment in these supply chains.
The project will see 50 percent of the participants introducing a new business process through their new training.
Sri Lanka’s female labour force participation has remained stagnant at around 35 percent.
With an ageing population, the government and international development agencies have identified higher female participation in the workforce as a source of new growth. (Colombo/Nov05/2019)