Amman, Jordan, March 12, 2018—
For the fourth consecutive year, IFC and stock exchanges around the world, including the Amman Stock Exchange, will “Ring the Bell for Gender Equality” to celebrate International Women’s Day 2018—a partnership that highlights how the private sector can spur women’s participation in the global economy and promote sustainable development.
IFC representatives, business leaders, investors, government officials, civil society members, and other key partners will gather today to highlight the business case for gender equality. The event will also showcase steps taken by Jordanian companies to empower women in the workplace.
“As business leaders, entrepreneurs, employees and consumers, women are fundamental to inclusive growth—creating business models that boost job growth, build capital markets and raise per-capita incomes while promoting sustainable development,” said Jingdong Hua, IFC Vice President and Treasurer.
Studies show that female talent is among the least utilized business resources in the world. Making even small inroads in closing the global gender gap could quickly yield strong results, with the potential to increase the global gross domestic product by $5.3 trillion over the next seven years, according to a 2017 report from the World Economic Forum.
The chairman of the board of directors, Jawad Al Anani, said “We believe in gender diversity and the role women can play in spurring economic growth and ensuring business sustainability"
In Jordan, the gender gap remains wide, especially in the upper echelons of the corporate world. An IFC study of 1,200 companies found women held just 6 percent of all board seats at those firms. In publicly listed companies, women held only 21 percent of senior management positions. For companies, the failure to capitalize on the skills of women—for example, by adding more women to their boards and ranks of senior leadership—represents a substantial opportunity cost. According to a recent IFC
study
, companies with female directors performed significantly better than those without, with a return on assets three times higher and return on equity twice as high.
“Gender equality is obviously important at a social level, helping to fight poverty and extend human rights to all,” said Dalia Wahba, IFC Country Manager for the Levant. “At a corporate level, it is a must. Companies simply cannot continue to ignore the talents of half of the population if they want to grow and thrive”
Now in its fourth iteration, a collaboration with over 60 stock exchanges around the world will “Ring the Bell for Gender Equality” on the occasion of International Women’s Day 2018. The effort highlights how the private sector can increase women’s participation in the global economy and promote sustainable development.
The event is part of IFC’s efforts in Jordan to support gender diversity. The event at the Amman Stock Exchange is supported by the Government of Canada.
About IFC
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
www.ifc.org
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About the Women’s Empowerment Principles
The Women's Empowerment Principles – Equality Means Business is a joint initiative of UN Women and the UN Global Compact. The Principles outline seven steps for business on how to empower women in the workplace, marketplace and community. The Principles highlight that empowering women to participate fully in economic life across all sectors and throughout all levels of economic activity is essential to build strong economies; establish more stable and just societies; achieve internationally agreed goals for development, sustainability, and human rights; improve quality of life for women, men, families and communities; and propel business' operations and goals. Learn more at
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