Boozman-Cardin BII Advancing Women’s Economic Empowerment Signed into Law

Boozman-Cardin BII Advancing Women’s Economic Empowerment Signed into Law

WEEE seeks to level the playing field for female entrepreneurs From U.S. Senate News

news@senate.gov WASHINGTON-President Donald Trump signed into law the Women’s Entrepreneurship and Economic Empowerment (WEEE) Act, legislation that seeks to eliminate global gender-related barriers and empower female entrepreneurs around the world.

The bill was introduced in the Senate by Senators John Boozman (R-AR) and Ben Cardin (D-MD) and enjoyed support and advocacy from anti-poverty and humanitarian groups.

“Providing women access to tools for economic success supports global prosperity. This act empowers women to gain control of their financial futures while simultaneously facilitating improvements in their homes and communities.

I’m proud to have led the effort in the Senate to help level the economic playing field for women around the world and I appreciate the tremendous support we received from many in the public,” Boozman said.

Said Cardin: “I believe in the power of women to change the world, and I am proud that our leadership on this new, bipartisan law will empower women entrepreneurs and sharpen our diplomatic and development tools to better fight global poverty and injustice.”

Specifically, the WEEE Act will:

• Establish a development cooperation policy to reduce gender disparities related to economic participation and opportunity, strive to eliminate gender- based violence, support women’s property rights and increase the capability of women and girls to determine life outcomes.

• Direct the USAID to include efforts that promote equality and female empowerment throughout its programs.

• Expand USAID’s microenterprise development assistance authority to include small and medium- sized enterprises, with an emphasis on supporting those owned, managed and controlled by women; and

• Modernize and develop an assistance toolkit to include innovative credit scoring models, financial technology, financial literacy, insurance and actions to improve property and inheritance rights.