IFC and 35 stock exchanges worldwide take part in initiative in support of International Women's Day.
The International Finance Corporation (IFC), a member of the World Bank Group, joined 35 stock exchanges in a global initiative on International Women’s Day, March 8, to “Ring the Bell for Gender Equality”, a partnership that highlights how the private sector can spur global growth by helping ensure that women participate in economic activity at the same rate as men.
Stock exchanges from Nairobi to Amman, Dhaka, Fiji, New York, and London participated in the initiative, ringing opening or closing bells to mark International Women’s Day. Events have been held since March 3 and will continue during the week to come, with IFC ringing the opening and closing bell today on its Washington, D.C., and London trading floors.
“Empowering women is not only the right thing to do it is also the smart thing to do,” said Mr. Jingdong Hua, IFC Vice President and Treasurer. “Research shows that it can add trillions of dollars to global GDP, boost productivity, generate higher returns on investments, and promote greater organizational effectiveness. The private sector has an essential role to play in unleashing the full economic potential of women.”
The IFC believes that women as consumers, employees, business leaders, and entrepreneurs have the potential to transform the global economy, supporting job creation, raising per capita incomes, and promoting sustainable development.
“Ring the Bell for Gender Equality” focuses on raising awareness about the business case for women’s economic empowerment and the opportunities for the private sector to advance gender equality, which is a key Sustainable Development Goal. It is a partnership of the IFC, the Sustainable Stock Exchanges (SSE) Initiative, the UN Global Compact, UN Women, Women in ETFs, and the World Federation of Stock Exchanges.