AfDB, partners to strengthen commitment to gender equality

The African Development Bank (AfDB) and partners have agreed to strengthen their commitment to gender equality.

The agreement is on the theme: ‘Development Banks as Actors for Change towards Gender Equality.’

AfDB Director for Gender, Women and Civil Society, Vanessa Moungar, joined high-level representatives from global financial institutions and UN Women in signing a joint declaration on gender equality.

The declaration was one highlight of a Finance in Common Summit panel hosted virtually by the French Development Agency, Agence Française de Développement (AFD), during the Paris Peace Forum on 12 November, the bank says.

Panel organizers said gender inequality costs sub-Saharan Africa $95 million each year.

Moungar and other panelists addressed the critical role and impact of public-private development banks in achieving gender equality for inclusive economic growth.

She said to change the status quo, the AfDB is taking the lead in accelerating efforts to address gender inequality and drive inclusive economic transformation for women across Africa.