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In economic development, the empowerment approach focuses on mobilizing the self-help efforts of the poor, rather than providing them with social welfare. Economic empowerment is also the empowering of previously disadvantaged sections of the population, for example, in many previously colonized African countries.
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Women's economic empowerment, or ensuring that women and men have equal opportunities to generate and manage income, is an important step to enhancing their development within the household and in society. [101] Additionally, women play an important economic role in addressing poverty experienced by children. [101]
On March 9, 2008, Zimbabwe's president, Robert Mugabe, signed the Indigenisation and Economic Empowerment Bill into law. The bill was passed through parliament in September 2007 by President Mugabe's party, the Zimbabwe African National Union-Patriotic Front (ZANU-PF), in spite of resistance by the opposition party, Movement for Democratic Change (MDC).
Local economic development combines economic development activities, urban planning, infrastructure development and social development activities to improve local conditions. LED encompasses a range of disciplines including physical planning, economics and marketing, all with the goal of building up the economic capacity of a local area to ...
The main objective of the Subhadra Yojana is to provide financial assistance to women from economically weaker sections, thereby promoting economic empowerment. Women eligible under the scheme will receive ₹50,000 over a five-year period, starting from the fiscal year 2024–25.
Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
IPETCA, officially the Indigenous Peoples Economic and Trade Cooperation Arrangement, is a non-binding economic arrangement for promoting the economic empowerment of indigenous peoples in the Asia Pacific region, established in 2021.