The Fels Institute of Government welcomed Mary Ellen Iskenderian, president and CEO of Women’s World Banking, to the Public Policy in Practice speaker series on Thursday, September 28, 2023. Ms. Iskenderian has led their global team since 2006, driving their mission of expanding economic inclusion and empowerment for women worldwide. Chronicling her work and her vision for how expanding financial inclusion benefits everyone, she published her first book, There’s Nothing Micro About a Billion Women: Making Finance Work for Women, in April 2022.
The event featured an engaging conversation led by Fels Distinguished Fellow Elizabeth Vale and questions from the Fels community. Ms. Iskenderian shared insights from early in her career that sparked her lifelong passion, realizing that “finance could be a force for good in people’s lives.” Her journey led her from traditional banks to the nonprofit sector, where she joined Women’s World Banking and started building and rebuilding financial systems internationally.
Ms. Iskenderian shared stories of the collective and individual impact resulting from women’s financial inclusion. Women’s World Banking worked with a bank in Paraguay to implement sidecar loans for agricultural business owners, who, over time, saw an increase of 12% to 40% of women in its agricultural portfolio. One anecdote illuminated the experiences of a Paraguayan woman business owner who was unable to expand her agricultural business due to a lack of funding. Once she had access to a sidecar loan, her business and life transformed.
She emphasized that addressing women’s most significant financial needs involves moving beyond microfinance. Access to all available financial products and services, as well as mobile technology and smartphones, is critical to maximizing women’s economic potential. Financial institutions also greatly benefit, as including women and designing financial products with their needs in mind unlocks an estimated $700 billion in potential annual revenue.
When Ms. Vale asked her what she would tell her 25-year-old self, Ms. Iskenderian remembered how her family voiced their hesitations on her decision to leave traditional banking for the nonprofit sector. She advised Fels students, “Have confidence in your convictions. I knew what I wanted to do… stick to that conviction and listen to your inner voice.”
Watch the full interview and join us for future Public Policy in Practice conversations.
The Public Policy in Practice Series, led by Fels Distinguished Fellow Elizabeth Vale, is designed to provide students with a variety of perspectives and compelling personal narratives that will help them not only form their opinions on important issues but will also help shape their careers. The Fels Institute of Government is proud to offer these important conversations to the entire Penn community and members of the public.
