Since 2017, the Gender Equality Working Group is focusing on eliminating gender-based inequalities (pay gaps, women’s role in decision-making processes, work-life balance, access to non-traditional jobs, and sexual harassment at work) within Members’ both internal institutional practices and external operations.
The Working Group has been committed to mainstream Gender Equality in all Members’ activities, to seek solutions on how to address the ongoing challenges that they are facing and to increase impact on women employment in public or private sector.
While Gender Equality is a key factor to leverage sustainable and inclusive development in all countries, development banks have a unique role to play. In this context, in September 2017, the IDFC members collectively decided to form a Working Group, under the impulsion of TSKB, echoing the “Sustainable Development Goal 5 – Gender Equality”.
Read the article TSKB voices IDFC commitment for Gender Equality
Firstly, the Working Group focused on UNDP’s Gender Equality Seal themes including eliminating gender-based pay gaps, increasing women’s role in decision-making processes, enhancing work-life balance, enhancing women’s access to non-traditional jobs, and eradicating sexual harassment at work. Within Members’ internal institutional practices, the Working Group conducted an analysis of policies and strategies to promote gender equal opportunities in terms of career development, recruitment, training and social welfare infrastructure and to seek solutions how to address the ongoing challenges that they are facing.
The Working Group has also been committed to explore the operational dimension of Gender Equality in order to increase external impact and to raise awareness on Gender Equality and women employment in public or private sector.
IDFC has been developing a roadmap and action plan on Gender Equality with the goal to establish IDFC as an active platform for promoting and advocating gender equality and women’s empowerment for the next years. Its main priorities are:
- Advocacy on Gender Equality and on the role that PDBs can play to achieve SDG 5, through promotion of strategic partnership and policy dialogue;
- Expending gender mainstreaming and integrating SDG 5 in members’ practices and operations through peer learning and knowledge sharing;
- Reporting Gender Finance;
- Promoting cooperation and joint operations between members around Gender Equality.
The working group is also active among the Gender Equality and Women’s Empowerment in Development Banks coalition launched at the Finance in Common Summit 2020, through the Paris Development Banks Statement on Gender Equality & Women’s empowerment.
- IDFC Joint Statement on Gender Equality and Gender Equity
With the view to pursue the effort on Gender Equality, IDFC released a Joint Statement on Gender Equality and Gender Equity during its Annual Meeting held in Washington D.C in October 2019. This Joint Statement highlighted IDFC members’ commitment via both internal and external policies for gender equality and gender equity issues, which are key catalysts for sustainable development.
To reinforce the role of development banks in funding an inclusive and sustainable economy, taking into account gender equality as one of its strategic priorities, IDFC has mandated in 2020 a Study on Gender Equality, which aims to strengthen members individually as well as the Club collectively. The study aimed to highlight the impact of development finance initiatives on gender equality as well as to propose recommendations for the development banks against gender stereotypes, discrimination, and inequalities in the sector. Based on this study, IDFC developed in 2022 a roadmap and action plan on gender equality 2022-2027 with the goal to establish IDFC as an active platform for promoting and advocating gender equality and women’s empowerment for the next years.
- IDFC Gender Tracker
This IDFC Gender Tracker aims to enable IDFC members to systematically track and report their gender-responsive financing operations. The collected information from the reporting members will contribute to the periodic mapping of the IDFC members’ contribution to gender finance. This mapping will also contribute to IDFC advocacy on gender equality and the role that PDBs can play to achieve SDG5.
Read the statement of Paris Development Banks on Gender Equality and Women’s Empowerment
Read the study on strengthening gender equality in the development banking sector