Statement by CEB Governor Rolf Wenzel on International Women's Day 2020

PARIS - This year’s observance of International Women’s Day falls at a time when digitalisation and climate change challenges are on the rise. 

The former is supposed to bring about innovation and efficiency improvements. Yet, the share of women in science, technology, engineering and mathematics (STEM) is still significantly lower than men, following on persistent patters of gender segregation in education systems in Europe. The latter has a significant impact on low-income activities, such as agriculture, which are still largely undertaken by women. 

However, despite the evidence pointing to gender segregation in Europe, responses from most policy makers tend to be gender-blind, particularly if countries still suffer from the aftereffects of the recent economic crises or are directly impacted by the humanitarian emergencies on Europe’s footsteps, triggered by the recent spike in armed conflicts. 

The CEB believes that gender equality and women’s rights are fundamental to addressing each of these challenges. For instance, as shown by several recent reports, improving women’s participation in the European labour market could create up to 6 million additional jobs by 2050, with an increase in per capita gross domestic product (GDP) of up to 5.5 %. 

The CEB actively contributes to this objective by financing projects that assist women with identifying affordable housing and gaining sustainable employment, thus mitigating the risks of poverty and social exclusion. 

In line with our exclusively social mandate, our response has aimed to be flexible and thus reflect different types of vulnerabilities to which women are exposed, including age, household status, disability, living in remote or rural areas, ethnicity and migration status. Our financing also focuses on the most vulnerable so that no one is left behind, while reflecting environmental sustainability concerns. 

Over the past 10 years, the Bank has approved more than €800 million in financing for projects that include gender-specific activities. We are pleased to see that this financing has started to bear fruit. For instance, more than 9,000 women in Bosnia and Herzegovina and a similar number in Spain have a better source of income and opportunities for personal and professional growth. Much more is due to follow soon in France, Georgia, Kosovo, Italy, Montenegro, and the Netherlands, amongst others. 

Internally, the CEB has engaged in a process of achieving gender equality among staff. The progress achieved so far has been confirmed by the first level of the EDGE Certification - the leading global assessment methodology and business certification standard for gender equality. Work on achieving the second level is ongoing, with a focus on gender parity at higher management levels, policies and practices on equal pay, promotion, or leadership and professional development at the CEB. 

International Women’s Day is an important day to mark because it is a reminder to us all that women’s social and economic empowerment is key to achieving sustainable and inclusive growth. 

On this special day, I am pleased to reaffirm on behalf of the CEB that ‘an equal world is an enabled world’ and that the CEB is fully committed to making this happen.