Building Back Equal Joint Programme in Bermuda concludes with strong results for women and youth entrepreneurs

HAMILTON, BERMUDA, October 18 – The Building Back Equal Through Innovative Finance for Gender Equality and Women’s Empowerment Joint Programme, a groundbreaking initiative focused on empowering women and youth entrepreneurs in Bermuda, concluded with a celebratory close-out event held at the HSBC Bermuda Bank. The event highlighted the programme's significant achievements in fostering gender equality and economic empowerment through innovative financing and capacity-building initiatives.

A Collaborative Effort to Drive Change

The Building Back Equal Joint Programme was funded by the United Nations Joint SDG Fund and implemented in country by the Ministry of Youth Social Development and Seniors of Bermuda, the Bermuda Economic Development Corporation (BEDC), under the programmatic and technical leadership of UN Women, in partnership with the United Nations Development Programme (UNDP). With funding support of some US $ 1,822,800 across Bermuda and The Bahamas, the initiative sought to address the unique challenges women and youth entrepreneurs face in accessing finance and business support.

The Building Back Equal Joint Programme was the first of its kind in the history of UN-Bermuda relations and points to growing optimism in providing tailored support to high-income Small Island Developing States with hidden development challenges.

The Hon. David Burt Premier of Bermuda congratulated the programme including the strong implementing support of The Hon. Tinée S. Furbert, Minister of Youth, Social Development and Seniors whose advocacy led to the establishment of the first UN Joint Programme in Bermuda.

Minister Furbert who opened the event, emphasized the government’s commitment to supporting women and youth in their entrepreneurial endeavours. Minister Furbert stated, “As we close this chapter of the Building Back Equal Joint Programme, I am deeply moved by what we’ve accomplished together. True progress happens when we build lasting partnerships and focus on empowering each and every person in our community.”

In an official video message, Dennis Zulu, United Nations Resident Coordinator in Bermuda, underscored the UN's dedication to promoting gender equality and sustainable development in the region. 

“This Programme has laid a strong foundation for the continued growth and empowerment of women and youth entrepreneurs in Bermuda,” — UN Resident Coordinator Dennis Zulu

The closing event also featured networking opportunities among participants, reaffirming the UN’s commitment to sustainability in its programming.

“This programme has demonstrated the power of collaboration and innovation in driving meaningful change,” said Gayle Gollop, Programme Specialist, Private Sector and Innovative Finance, UN Women Multi-Country Office - Caribbean, “by bringing together diverse partners and leveraging their expertise, we have already impacted the lives of women and youth entrepreneurs in Bermuda.”

Empowering Entrepreneurs, Building a Brighter Future

Over its two-year duration, the programme achieved remarkable results in Bermuda, including:

• Gender-Responsive Business Practices: Training was provided to financial institutions on understanding the needs of women and youth-led MSMEs and developing gender-responsive financial instruments. 
• Direct Financial Support: Technical services and business inputs were distributed to 19 women entrepreneurs in Bermuda through UN Women and UNDP.
• Accelerator Programme: A dedicated accelerator programme was launched in Bermuda to support mature enterprises led by women, youth, and persons with disabilities, providing them with the tools and resources to scale their businesses and attract international investment.
• Curriculum Development: A comprehensive curriculum was developed for businesses accelerator programs, ensuring adaptability to diverse audiences and industries.
• Policy Influence: The programme's research and findings are expected to inform national gender policies in Bermuda, further enhancing the environment for women and youth entrepreneurs. This was also supported by the capacity strengthening of the public sector in establishing gender responsive policies to foster an inclusive entrepreneurial ecosystem. 
• Women’s Empowerment Principles: Offering guidance to business on how to advance gender equality and women’s empowerment in the workplace, marketplace and community

Click here to continue reading this story at the website of UN Women MCO - Caribbean.