Bank of America partners non-profit in fund for disadvantaged women

Social Innovation Fund Ireland to use €1.8m to enhance economic mobility of women

Deirdre Mortell (left) chief executive of Social Innovation Fund Ireland, An Taoiseach Leo Varadkar and Anne Finucane, chairwoman of Bank of America Merrill Lynch Europe. Photograph: Marc O’Sullivan

Deirdre Mortell (left) chief executive of Social Innovation Fund Ireland, An Taoiseach Leo Varadkar and Anne Finucane, chairwoman of Bank of America Merrill Lynch Europe. Photograph: Marc O’Sullivan

 

A non-profit organisation has joined forces with Bank of America and the Department of Rural and Community development to introduce a €1.8 million fund to enhance the economic mobility of women.

Social Innovation Fund Ireland, along with its two partners, established the fund to support charitable and social enterprise organisations that invest in groups providing training, upskilling, education and other services directly to disadvantaged women.

Figures from the Central Statistics Office show female participation in the labour force is 14 per cent lower than men, despite the fact that women make up more than half of third-level graduates in Ireland.

“Our aim is to support women who find it hard to access the labour market into decent and sustainable work by supporting relevant organisations to empower women by improving their skills, enabling them to seek higher quality, more challenging, and more fulfilling long-term employment,” said Deirdre Mortell, the chief executive of Social Innovation Fund Ireland.

The organisation intends to help 1,000 women to find secure employment across Ireland over the next three years.

“The €1.8 million fund has the potential to create a lasting impact and transform the lives of the women involved and add value to our society,” said An Taoiseach Leo Varadkar.