Global Development Banks Unite to Tackle Gender-Based Violence and Empower Women Worldwide

Global Development Banks Unite to Tackle Gender-Based Violence and Empower Women Worldwide

(IN BRIEF) On the International Day for the Elimination of Violence Against Women, ten major development banks, including the World Bank Group and the European Investment Bank, issued a joint statement reaffirming their commitment to combat gender-based violence (GBV). They emphasized GBV’s global prevalence, its economic cost of $6 trillion annually, and its deep impact on survivors’ mental health, economic stability, and future generations. The banks pledged to expand survivor-focused programs, enhance access to justice, improve data systems, boost private sector involvement, and scale up innovative approaches. They aim to collaborate with governments, civil society, and the private sector to create systemic change and promote a world free from violence for women and girls.

(PRESS RELEASE) LUXEMBOURG, 25-Nov-2024 — /EuropaWire/ — In a powerful joint statement marking the International Day for the Elimination of Violence Against Women, the heads of ten leading development banks—Asian Development Bank, Asian Infrastructure Investment Bank, Caribbean Development Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, New Development Bank, and the World Bank Group—reaffirmed their collective commitment to eradicating gender-based violence (GBV).

Despite global efforts, GBV remains a critical issue, with one in three women experiencing physical or sexual violence from an intimate partner in their lifetime, even as 189 countries are party to the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW). Women face multifaceted violence—physical, sexual, psychological, economic, and digital—in various spaces, including homes, workplaces, schools, and online platforms. The economic cost of such violence is staggering, estimated at $6 trillion annually, with far-reaching effects on survivors’ mental health, economic stability, and the well-being of future generations.

The joint statement emphasizes that eliminating violence against women is not only a moral and human rights imperative but also critical to achieving global economic growth and reducing poverty and inequality. Evidence demonstrates that addressing GBV can unlock development potential and foster inclusive progress.

Shared Commitments

The coalition of development banks has pledged to:

1. Expand survivor-focused programs in key areas such as employment, education, healthcare, transportation, and social protection while improving systems to track and evaluate program outcomes.
2. Enhance access to justice by empowering clients and stakeholders to reduce impunity for GBV perpetrators and support survivors.
3. Strengthen the private sector’s role in preventing and responding to GBV.
4. Improve data systems to ensure consistent tracking and reporting of GBV incidents, enabling timely interventions and support.
5. Scale up innovative approaches to address GBV across all sectors globally.

A Collaborative Call to Action

Recognizing the complexity of GBV, the development banks committed to leveraging their resources and networks to work alongside governments, civil society, private sector entities, and other international organizations. By prioritizing evidence-based prevention, response services, and justice mechanisms, the coalition aims to create systemic change.

In the statement, the institutions reaffirmed their shared vision:
“On this International Day for the Elimination of Violence Against Women, we stand united in our efforts to create a world where women and girls live free from violence.”

The joint effort underscores the transformative potential of eradicating GBV and promoting gender equality as a cornerstone of global development. Together, these institutions aim to build a future where women and girls are empowered to thrive, contributing to more inclusive and equitable societies.

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SOURCE: European Investment Bank