Hillary Clinton Attends Clinton Global Initiative Sofia Meeting Urging to Invest in Women Entrepreneurs

Momchil Rusev

Hillary Clinton in Sofia on May 18, 2024 (BTA Photo)

Sofia,

18.05.2024 12:52

(BTA)

A special meeting of the Clinton Global Initiative (CGI) focusing on women entrepreneurs was held at the National Palace of Culture in Sofia on Saturday. The event brought together leaders from the public and private sectors to identify ways to support the economic progress of women globally.

The Sofia meeting was organized by businessman Kiril Domuschiev - Co-Founder of Domuschiev Impact and member of the CGI Advisory Council. It was part of CGI's "Road to September" - year-round convenings to establish new partnerships and identify ways to take action, leading up to the CGI 2024 Meeting in New York City, September 23-24.

Domuschiev pointed out that the voices of women entrepreneurs often go unheard, while they are inspiring and more can be done to ensure their success. Closing the gender gap would boost the economy by EUR 3 trillion, Domuschiev predicted.

He stressed that the focus of Saturday's event was Hillary Clinton's life journey, "which is proof that anything is possible." The businessman stated that part of their mission is to help women make their voices heard.

According to former US Secretary of State Hillary Rodham Clinton, the truth is that many women and girls face obstacles. They earn about 24% lower incomes, they find jobs in lower-paying parts of the economy, and are certainly underrepresented on boards of directors or in senior management positions in the corporate sector. "On the one hand, we have great opportunities, but we have to be honest about attitudes," Clinton said, adding that women-led businesses received 2% less of the venture capital invested last year.

She reminded the audience that one in ten women lives in poverty, yet the economies of which they are a part could not function without their unpaid work.

Clinton welcomed the fact that this discussion is taking place in Bulgaria because this country is an example of women in Parliament and in corporate positions.

"There are many lessons we can learn, but also challenges we must face, and we can start by placing greater value on women and all they bring to their work," Clinton said.

She welcomed as her interlocutor Kosovo's President Vjosa Osmani, who won the presidential elections with the greatest support a person, man or woman, has ever received in Kosovo.

"Over the last 25 years, as a politician, as a lawyer and as an activist, I have seen that the more we empower girls and women, the more it affects the prosperity of all citizens," Osmani said, stressing that the fight in this regard is being held on several fronts. On the one hand, it's reforming and directing economic policies in a way that includes women's contributions to the workforce, because excluding them will slow economic growth. Osmani also believes that women should be more involved in politics because at this point they have a say in decision making.

Kosovo's President said that more should also be invested in policies that support women's education because it is an important aspect of the economic tailwind. "Empowering women economically has effects beyond their own individual success. It empowers societies to achieve more," she said, pointing to her own country as an example.

The event was also attended by Cherie Blair, founder of the Cherie Blair Foundation for Women, Yozlem Denizmen, founder and CEO of Monay, Jessica Espinoza, CEO of 2X Global, Elpida Kokkota, founder and CEO of Mexoxo, and Jocelyn Mangan, founder and CEO of Him for Her.

Domuschiev Impact served as the presenting sponsor of the CGI 2022 and 2023 meetings in New York City.

CGI is a community of established and emerging leaders working together to create and implement Commitments to Action - new, specific and measurable solutions to pressing global challenges.

/MR/