The European Bank for Reconstruction and Development (EBRD) and G20 engagement group Women20 hosted a Gender and Crisis Recovery: Building Back Better webinar.
The discussion considered the impact of the coronavirus crisis and gender responsiveness of future recovery measures.
The webinar explored some of the emerging evidence around gender-differentiated market transition and the economic impact of the pandemic.
Ensuring policy and recovery measures are gender responsive
The discussion highlighted key policy recommendations relevant to the G20, policy makers and the private sector to ensure that future recovery measures are gender responsive.
Important insight from EBRD President Sir Suma Chakrabarti
EBRD President Sir Suma Chakrabarti addressed participants before opening the floor to a panel moderated by EBRD Managing Director for Policy and Governance, Mattia Romani.
EBRD President Sir Suma Chakrabarti opened the webinar.
During his address, Sir Suma asserted that the world must draw conclusions from the coronavirus pandemic and build a more inclusive and sustainable future.
He said building gender equality into the recovery from the COVID-19 crisis was part of a vision for a better future, boosting long-term economic resilience and sustainability.
"We can all see how the world is grappling with one of the worst crises of my – relatively long – lifetime. This crisis is exposing entrenched systemic and structural inequalities. They require renewed vision, determination and action to overcome," he shared with webinar participants. "Many countries across the globe are, quite rightly, already planning their strategies for the post-COVID-19 economic recovery. Despite the severity of the crisis, I firmly believe we now have a big opportunity. An opportunity to build back better and in way that does not yearn for the old normal but shapes a more inclusive and sustainable future."
Sir Suma cited some of the EBRD's own approaches to promoting gender equality. For example, the Bank's first Strategy for the Promotion of Gender Equality to push women’s access to finance, skills and services, its Solidarity Package and the flagship Women in Business programme.
"At the EBRD we have been stepping up our activities to support gender equality over the last half decade. We know there is still a long way to go. We also believe that making progress on this front is more important today than ever before," Sir Suma added.
"For the EBRD, building gender equality - and private-sector oriented solutions - into the recovery is part of a vision for a better future, one that boosts economic resilience and sustainability for a long time to come."
Read Sir Suma's opening address in full.
Exposing inequalities in societies and taking action
W20 Chair Dr Thoraya Obaid also addressed participants before opening the floor to a panel.
Women 20 Chair Thoraya Obaid also shared powerful messages, stressing the importance of rebuilding a world with a renewed focus on gender equality.
“COVID-19 has exposed the entrenched inequalities in our societies, including on gender. It is now our collective duty to re-imagine and rebuild a new world where equality is its hallmark,” Dr Obaid commented.
Making a positive impact for the years ahead
The COVID-19 pandemic has unleashed an unprecedented global economic, health and social crisis. Economies across the regions of the EBRD are currently estimated to contract on average by 3.5 per cent this year.
The EBRD belives the crisis risks reversing the gains made to enhance gender equality over the past decades, with women disproportionately affected due to their representation in sectors hard hit by lockdown policies, likelihood to be in lower paid or less well-protected jobs, as well as the increased time spent on care duties.
"The recovery policies embraced today are likely to have enduring effects on the structure of our economies and societies for many years to come," says the EBRD.
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Disclosure: Where Women Work researches and publishes insightful evidence about how its paid member organizations support women's equality.