On March 9, 2017, the Baku Stock Exchange and IFC, a member of the World Bank Group, joined over 40 stock exchanges around the world to “Ring the Bell for Gender Equality,” highlighting the importance of gender equality for private sector growth and sustainable development.
The Baku Stock Exchange event attracted more than 40 private sector, government and international development institution representatives. The discussion focused on how empowering women can result in higher productivity, more customers, and a stronger bottom line for private companies, ultimately leading to increases in Gross Domestic Product (GDP).
According to a new report from the UN Sustainable Stock Exchanges initiative with GIZ, women-owned small businesses could add around $285 billion to the global economy if better served, while the global economy could be up to $28 trillion larger in 2025 if gender gaps were eliminated.
This is the third global Ring the Bell event in line with International Women’s Day. Organized by IFC and the Sustainable Stock Exchanges Initiative, together with the UN Global Compact, UN Women, Women in ETFs and the World Federation of Exchanges, it aims to highlight the role the private sector can play in advancing gender equality and sustainable development.
The Baku event is supported by IFC’s Corporate Governance Program in Europe and Central Asia, funded by Switzerland’s State Secretariat for Economic Affairs (SECO).