Browse by Theme: Women's Economic Empowerment

CARE’s focus on women’s economic empowerment is based on our belief in women’s rights and the key role that economic empowerment plays in the achievement of those rights, some of them inherent in economic empowerment itself and others to which economic empowerment provides a bridge. But we know that as we engage with government, donors and the private sector, it always helps to have a strong economic argument on our side, and once again the IMF have provided one.

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Are financial institutions in emerging economies adapting their business models fast enough to tap into the market of the currently unbanked? And if not, why not?

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Global value chains can be a powerful lever for empowering women, but companies must identify where women work, must develop a clear gender strategy and must articulate the business case for supporting women.

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On Friday 20 May 2016, on the eve of the first ever World Humanitarian Summit, CARE International with the support of Hogan Lovells convened a business/UN/government roundtable to discuss the potential for business to empower women in emergencies. Business has played an active role in the WHS process, and a set of ‘core commitments’ on gender equality in humanitarian action has been tabled for the Summit outcomes. But these two agendas are yet to be linked. The roundtable looked at how this might happen both as part of the WHS process and beyond.

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The European Bank for Reconstruction and Development (EBRD) has just held its Annual Meeting in London, and I was lucky enough to participate in a panel discussion on their recently published Strategy for the Promotion of Gender Equality 2016-2020. A key focus of the discussion was how EBRD can best work with civil society organisations towards achievement of the strategy. There are many points to welcome in the strategy – but also many challenges to be faced...

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In Tanzania a group has gathered to purchase shares, grow their savings, access loans and do their book-keeping. Regular financial sector activities, but with a difference. These are the activities of the Tushikamane Paris group – an informal savings group of 24 women and 6 men from the hinterland of Zanzibar, Tanzania. Many from this community live on the poverty line, although some manage to make a little extra cash through selling surplus vegetables, crafts or making and selling snacks, amongst other small-scale enterprises. Despite having very limited funds, members of the Tushikamane Paris group manage to grow their savings every week, without fail.

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A recent IMF ‘staff paper’ (i.e. this is not the official view of the organisation, but they’re not disagreeing with it either...) provides additional support to CARE’s fight for financial inclusion by showing that four of the dimensions of financial development – access, depth, efficiency and stability – can significantly reduce income inequality and poverty.

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