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Do you want to lead change in Asia and the Pacific? Do you want to lead change in Asia and the Pacific?
UN ESCAP invites you, as a young changemaker, to submit your solutions to two challenge questions. Your solution may be completely
new or currently in a pilot/implementation phase. For each challenge question, ten solutions will be selected, 20 in total. You are invited
to submit your solution to only one of the two challenge questions.
The 20 selected candidates will form a team with other candidates that were shortlisted for the same challenge question and be invited
to a multi-stage solutions Bootcamp. Together, as a team, you will collaborate to craft your final solution. Each group will be mentored by
UN policy experts will be at your disposal to help refine your solution and get ready to present and discuss it with senior leaders
during the APFSD Youth event on March 31, 2022.
This event is the opportunity for young changemakers to discuss and present innovative solutions that can accelerate the implementation
of the 2030 Agenda for Sustainable Development and engage with a large audience interested in the topic.
Interested youths are invited to submit a solution to one of the two challenge questions below:
Challenge question 1: Challenge question 1:
Powering the underfunded: What is your solution to help women-led Micro, Small, and Medium Enterprises (MSMEs) Powering the underfunded: What is your solution to help women-led Micro, Small, and Medium Enterprises (MSMEs)
to access finance and markets? to access finance and markets?
Even before COVID-19, women entrepreneurs in Asia and the Pacific are already falling behind in accessing finance with a financing
gap as high as $6 billion in a number of countries. Lack of access to finance is a key factor in limiting business growth in the case of
women-owned enterprises. A myriad of barriers is preventing women entrepreneurs of MSMEs from accessing finance. For
example, banks loans require collaterals in the form of fixed assets which women are less likely to own than their male counterparts. Many women-led micro businesses operate in the informal sector and therefore, lack the right documentation and
business records to qualify for financing. Educational and digital constraints leading to a lack of access to markets and market
information further result in lower productivity, less profitability, and lower chances of expansion for women-owned or led
enterprises. As a result, women entrepreneurs tend to have lower levels of financial and digital capabilities than men and may have
a lack of confidence or an aversion to risk that can inhibit the use of financial products.
We invite proposals for creative, credible, and practical solutions to lift the barriers for women-led MSMEs to access finance and
markets. They need to focus on a concrete and specific barrier for the growth and resilience of women-led MSMEs.
