CAF, new member of the Gender Working Group of Multilateral Development Banks
For the first time, the entity was invited to the World Gender Summit, which included the participation of more than 200 leaders form the private sector, governments, multilateral organizations, and the civil society
CAF, Development Bank of Latin America, became the new member of the Gender Working Group of Multilateral Development Banks, a global network of development banks that facilitates the exchange of best practices and approaches based on evidence to advance toward the economic autonomy of women.
The announcement was made during the sixth Gender World Summit, held at the headquarters of the Inter-American Development Bank (IDB) in Washington D.C., and provides a strong reinforcement to the role of multilateral development organizations to influence and promote public policies that improve the situation of women.
In addition, this new position is essential to face, with more guarantees, the diverse challenges faced by Latin America to achieve gender equality.
The event, which included the participation of the IDB, CAF, the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the African Development Bank, and the European Investment Bank, highlighted the importance of economic empowerment of women as an essential tool to promote social inclusion in the region, and discussed policies to increase the labor participation of women as well as mechanisms to promote their entrepreneurship, innovation, and leadership.
Currently, gender inequality persists in practically all the spheres of Latin American life. In vulnerable areas, women are particularly affected by underemployment and unemployment, with low paying, poor quality jobs. At the same time, they face challenges related to the workload and lack of time to conduct productive activities, which translates into different forms of exclusion.
To revert this situation, it is necessary to prioritize access to education, to financial and digital services, to ensure greater legal protection, and reduce the time spent in non-paying jobs, as even though in Latin America the gender gap is decreasing, there are still noticeable gender inequalities.
CAF works in the development of economic empowerment projects to provide women with effective tools to help them become agents of change of their own development.
CAF's more recent content
CAF approves new financial instrument for Mexico
Mexico becomes the first CAF shareholder country to receive the new Integral Loan Linked to Climate and Social Objectives (PIVOCS), for USD 300 million, which allows linking financial conditions to the fulfillment of commitments in climate action and gender equality.
Latin America propose solutions to gain global relevance
The CAF Annual Conference in Panama gathered distinguished international experts to visualize, understand, and devise action plans that accelerate the 2030 Agenda and globally position the solutions of Latin America and the Caribbean.