Blended Investing: Leaving No One Behind for Economic Empowerment

 UNAIDS has recently contributed to financing seven start-ups, by Transgender and retired sex workers in collaboration with UNCDF, who selected these businesses by applying UNCDF’s own due diligence process, and through approval by a Gender Responsive Investment Platform set up at the central bank of Bangladesh.  

The fundamental rationale behind the investment strategy is that by increasing the availability of domestic financial resources (both public and private) to support economic opportunities at the local level for minority groups, so that they will be better equipped to achieve lasting enhancements in their income and economic stability. These investments contribute to SDG goals 5 (gender equality) and 8 (decent work and economic growth). 

Within this initiative, UNCDF has allocated two types of resources: human capital, which includes training, skills development, entrepreneurship support, and employment opportunities, as well as financial capital in the form of grants. These investments have been directed towards local businesses in specified regions, with a specific focus on gender responsive projects that primarily benefit women and girls, ultimately leading to the creation of more job opportunities for them.

We are sharing stories of these seven start-ups here:

Uttoron Gents Parlor 

In the town of Manikganj, Anonnya Banik emerges as a powerful force for change within the transgender community. Through her courageous initiative, Uttoron Gents Parlor, established in 2019, she transformed a simple gents parlor into a sanctuary of empowerment. 

Anonnya's vision extended beyond mere entrepreneurship; it aimed to challenge societal norms and provide sustainable opportunities for transgender individuals who face discrimination and marginalization in Bangladesh. Despite the long-standing challenges and prejudices faced by the transgender community, Anonnya Banik's determination remained unyielding. 

She recognized the untapped potential within her community and sought to reintegrate transgender individuals into society as entrepreneurs, breaking down barriers of discrimination and bias.Anonnya's commitment was not just lip service; she actively engaged transgender individuals as employees, providing them not only with jobs but also with a platform to showcase their talents and capabilities. 

Anonnya's pioneering efforts ignited conversations on inclusion and acceptance, serving as a model of empowerment for the broader community. UNCDF is proud to be a part of this inspiring journey of empowerment.

Through this investment, key positive changes made:

With support from UNCDF, a comprehensive business plan and capital budget were prepared for the parlour which included a business financial model capturing details such as sales, growth, revenue, operational and capital costs, assets, and equity. Grants from UNCDF, along with loans from banks, facilitated the renovation and modernization of the parlor, enhancing its appeal to a wider customer base. 

Lastly, Uttoron experienced significant increases of customers, the business expanded its human resource capacity by hiring three transgender individuals. 

SHOW Fashion House 

In Manikganj, Bangladesh, SHOW Fashion House, led by Aleya Akter Lily, stands as an encouragement of empowerment and change. Founded with a vision to provide dignity and opportunity to retired sex workers, the fashion house employs eight women who seek to transition to alternative livelihoods. 

Beyond selling clothes, it offers a sanctuary of possibilities, rewriting destinies and fostering independence. Aleya plans to expand the business by integrating new equipment and hiring more staff, aiming to empower more women seeking to exit the sex work industry. 

SHOW Fashion House represents more than just fashion; it embodies a narrative of empowerment, resilience, and societal transformation, offering a chance for women to reclaim their dignity and independence in the face of adversity.

Through this investment, key positive changes made:

UNCDF supported preparing a comprehensive business plan for the boutique and capital budgeting, which included a business financial model capturing details such as sales, growth, revenue, operational and capital costs, assets, and equity. UNCDF also facilitated in connecting with commercial banks. Using grants from UNCDF and loans from banks, she refurbished her showroom and purchased sewing machines to boost production and provide training opportunities for individuals like herself who aspire to learn. With a notable surge in customer demand, Aleya enhanced her workforce by recruiting 5 elderly sex worker.