Tbilisi, Georgia, March 7, 2018
—IFC, a member of the World Bank Group, Georgian Stock Exchange and partners hosted a “Ring the Bell for Gender Equality” event today in Tbilisi, for the first time, to celebrate International Women’s Day 2018, emphasizing the importance of gender equality for economic development and growth.
The event highlighted how empowering women can help achieve higher productivity in private companies, ultimately supporting the economy and job creation, raising income, and promoting development. It attracted around 70 private sector, government, and international institution representatives.
“The potential benefits from women’s economic empowerment are significant. Multiple studies show listed companies with women represented on boards outperform those without,” said George Paresishvili, CEO, Georgian Stock Exchange. “We are delighted to join stock exchanges around the world in advocating for equal gender representation on boards and in senior management as a smart business strategy.”
Part of a global campaign taking place in around 60 other cities, the event in Tbilisi was a partnership between IFC, a member of the World Bank Group, the Georgian Stock Exchange, UN Women, and the Civil Development Agency (CiDA), the Secretariat of Global Compact Network Georgia. The Norwegian Ministry of Foreign Affairs supported the event as part of the UN Women-led program.
“Narrowing the gender gap can help drive growth and improve the lives of many families, which is why IFC and its partners have joined forces to strengthen women’s participation in the private sector as employees, entrepreneurs, consumers, and leaders,” said Jan van Bilsen, IFC Regional Manager for the South Caucasus. “Georgia would benefit greatly from tapping this potential.”
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit
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