ExxonMobil said on Friday that it will provide about $5 million in grants to support local and global organizations dedicated to empowering women economically. The announcement, made in association with International Women’s Day and the company’s Women’s Economic Opportunity Initiative, underscores ExxonMobil’s support for efforts to advance women economically, encourage and assist women entrepreneurs, increase financial literacy and improve women farmers’ productivity.
In addition to grants made by ExxonMobil affiliates to local organizations in their countries, the Exxon Mobil Corporation and ExxonMobil Foundation are providing funding to ADPP, the Center for Global Development, Cherie Blair Foundation for Women, Counterpart International, the George W. Bush Institute, Kickstart, Kopernik, Solar Sister, Opportunity International, Technoserve and WEConnect International. In partnership with Women’s World Banking, the ExxonMobil Foundation is also continuing to support the She Counts initiative, which encourages financial service providers in developing countries to design and offer products to encourage women business owners to save.
“Research shows that when women manage their incomes, they invest in the health, education and well-being of their families,” said Suzanne McCarron, chair of the ExxonMobil Foundation. “Our investments are specifically geared toward providing women with support to increase their productivity and financial resources, and realize their fullest potential.”
ExxonMobil has invested more than $120 million in its Women’s Economic Opportunity Initiative since its inception in 2005, and has partnered with and supported dozens of initiatives to the benefit of tens of thousands of women in more than 90 countries.
ExxonMobil’s Women’s Economic Opportunity Initiative focuses on data-based, proven programs that help women participate in the economic life of their communities. It funds initiatives that correspond with the findings of the ExxonMobil-commissioned Roadmap for Promoting Women’s Economic Empowerment. The Initiative focuses on bolstering female entrepreneurship, improving the productivity of women farmers and providing access to appropriate technologies that catalyze new business development.
ExxonMobil is also a founding member of the Global Business Coalition for Women’s Economic Empowerment which harnesses the power of the private sector in fostering systemic economic change for women.
The company spends about $500 million each year with women-owned businesses in addition to the grants.