Gender equity: CAF's cross-cutting axis

CAF, Development Bank of Latin America, developed a strategic plan that incorporates a crosscutting gender approach to all its operations, whether internal or in support of countries, financing for projects, or technical assistance. In this framework, the organization promoted a conversation panel called "Gender Equity and development in Latin America", held at the Centro Cultural de España.

Gladis Genua, CAF's Director Representative in Uruguay, who was in charge of opening and closing the event, informed that in the framework of the promotion of gender equity, the office has been working on financial inclusion projects for women heads of households, and announced that together with UN Women, the United Nations System, and the Instituto Nacional de las Mujeres (Inmujeres) (National Women's Institute), work is being carried out on a project that will be launched soon, regarding education and gender equity for children and youths through sports.

Violeta Domínguez, coordinator of CAF's Inclusion and Gender Equity Unit, stated that CAF's office in Uruguay was the first to join the initiative of promoting activities that enable integration of a gender vision to the bank's operations.  

Domínguez explained, "Although we are a bank, we are a development bank and, therefore, we have the obligation to address subjects that affect society, so we could not leave gender equity out".  CAF's representative added that this project will deal with subjects such as violence and participation and leadership, but above all, it will address the subject of the economic empowerment of women.  

Investing in women is an intelligent decision, argued Dominguez, as "they save more than men, are better payers, and the income they have prioritizes the family and society". In any case, she highlighted that despite the fact that the region has improved with respect to the integration of women, it is still not an easy task to place credit options at their disposal, as "only 54 percent of economically active women of working age are incorporated to the labor market; if we look at the rural world,the percentage is even lower. In Latin America only 10 percent of women in rural areas have access to credit". 

The expert explained that to contribute to change, it is necessary for CAF to incorporate a gender perspective to its projects. "We must include women and girls from the beginning to the end of all our operations, whatever the project may be. In addition, we have to teach women how to incorporate themselves to the banking systems and create tools to initiate productive entrepreneurships. 

The conversation panel also integrated representatives from diverse local international organizations who work in favor of gender equity. One of them was Magdalena Furtado, Director of UN Women, who celebrated CAF's initiative and highlighted how important it is that a development bank includes these policies in their projects. She said that the countries with most gender equity are first in development, according to the world Economic Forum, and stated, "the application of neutral policies and interventions in the economies perpetuates inequalities".   

Nohelia Millán, Representative of Inmujeres, greeted CAF's project and commented on the gender policies advanced by the country, highlighting that it has not been the lack of will or commitment of the government to find solutions to some problems in Uruguay, but rather the lack of economic resources. 

Finally, Denise Cook, Resident Coordinator of the United Nations System and UNDP Resident Representative, stated, "without thinking about women, there can be no talk about real development". In her presentation, she analyzed the regional situation with respect to gender equity, and spoke about several experiences she has gathered during the 30 years that she has been dealing with the subject, pointing out with optimism, "The situation has changed very much and we have to think it is as a key for progress". 

The four participants in the conversation panel agreed that the main problems to be solved regarding gender equity, are the economic empowerment of women, female participation in the labor market and politics, and gender violence.  According to the panelists, the region improved in past years, but the gap between men and women is still big, as there is still a vertical segregation regarding work, and a significant salary gap. Data shows that women earn 24 percent less than men in the same position. 

Ricardo Ramón Jame, Director of the Centro Cultural de España, who acted as moderator of the panel, highlighted the projects that the center has advanced to ensure gender equity in art and culture.