The Covid-19 pandemic has set back progress and exacerbated existing gaps in equality of opportunity across the EBRD regions. Young people and women have been most affected by the crisis. Decisions taken today about the priorities for recovery will affect economic prospects for years to come.
For the EBRD, voices of young people and women are vital to define priorities for recovery efforts, as is the vision of policymakers in shaping these decisions.
An EBRD panel event, 'Building a Better and More Equal Future: Voices from the EBRD Regions', blended the voices of people from the region with policymakers to discuss what “building back better” means to them, with a focus on visions for a more inclusive future.
Increasing inclusion in countries of operation
EBRD Gender and Economic Inclusion Director Barbara Rambousek was a panel guest for the event, and she shared how the EBRD has a range of different tools to employ to support countries of operation and prevent further inequalities.
"First of all, we are a bank. We can leverage finance," she said. Financial support from the EBRD includes private sector investment, from industry and commerce to agriculture and infrastructure, as well as a strong focus on SMEs and women entrepreneurs.
Mentoring and advice for business
For small to medium sized enterprises (SMEs), Barbara explained how the EBRD can offer advisory and mentoring support to businesses on how to weather the COVID-19 crisis, such as switching to online commerce to target different customer segments. As an example, Barbara cited EBRD's work in Uzebekistan, where the Bank offered e-learning programs and a know-how academy to help businesses digitalise their operations.
Championing inclusive policy reform
Barbara also talked about the EBRD's support for larger corporations and clients in their regions of operation in terms of diverse workforce management and upskilling of employees. In terms of the private sector, the EBRD is championing inclusive policy reforms to safeguard jobs and build human capital, such as in the tourism and hospitality sector, while putting in place health and safety measures.
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Disclosure: Where Women Work researches and publishes insightful evidence about how its paid member organizations support women's equality.