For generations, widespread prevalence of economic and social barriers has inhibited the empowerment and economic inclusion of women in the global economy. Global challenges, such as climate change and the COVID-19 pandemic have further exacerbated gender disparities across the world. At the current rate of progress, the latest report by UN Women predicts that closing the gender gap will take up to 300 years. As we approach the half-way mark to 2030, therefore, achieving SDG 5 and closing the gender gap will require mobilizing private capital at a significant scale.
Both advanced and developing countries stand to gain from gender parity, as closing the gender gap in the workforce could add a staggering $28 trillion to the global GDP1. BwB sees addressing these challenges as critical and we are aware of the value in making investment decisions which have a positive impact on and benefit women. Given that gender is a theme which cuts across all of BwB’s activities, we are expanding our thematic sector work in Gender, Diversity and Inclusive Finance, with Heather Matson as a sector lead, and we formally announced this as a key sector at the start of 2023.
Read this piece to learn more about the current state of Gender Finance and the role of BwB in the future of this sector.