UK bank NatWest has announced additional £ 1 billion funding to support women-run businesses across the country.
NatWest has doubled its funding for women entrepreneurship to £ 2 billion in an effort to fuel the UK’s economic recovery and counter any potential disadvantage to women’s careers from the COVID-19 outbreak.
The bank has seen “unprecedented” demand from women-run businesses since the beginning of the pandemic and has subsequently increased its funding to £ 2 billion.
Alison Rose, CEO of NatWest Group, commented, “As we build a purpose-built bank that advocates the potential of people, families and businesses across the country, we are committed to helping the UK recover from the crisis.
“If, on the other side of this crisis, women feel even more professionally disadvantaged, then we will try to build an economic recovery without considering any great potential. “
She continued: “We all, from ministers to employers, have a duty to ensure that further pain is not disproportionately felt by women and that targeted and innovative help is provided to anyone who is ambitious to start or expand a company .
“We are determined to play our part and I am pleased to confirm that we can now launch a second tranche of £ 1 billion to continue and expand our support for women entrepreneurs.”
Paul Scully, Minister for Small Business and Co-Chair of the Rose Review Board. added: “We want to make the UK the best place in the world to start and grow a business. This means supporting entrepreneurs from all walks of life, regardless of gender or ethnicity.
“It’s fantastic to see a big company like NatWest doubling its support for women-run businesses to £ 2 billion and giving thousands of businesses a lifeline as we build better on coronavirus.”
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