Almarai wins 'Best Corporate Sukuk' at Asset Triple A Islamic Finance Awards    Top climber falls to death after rare Himalayan feat    US voters flying home in time for election    Drones and snipers on standby to protect Arizona vote-counters    India's Modi condemns violence after Canada temple incident    Harris and Trump make final push in must-win Pennsylvania    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Saudi crown prince, Tunisian president review bilateral relations in phone call    Al-Khereiji: Collective action in combating terrorism is a must for achieving stability and prosperity    SFDA Chief visits premier biotechnology and medical firms in China    Saudi Awwal Bank becomes the Kingdom's first bank obtaining ISO certification for quality management system in operations    Saudi Arabia's non-oil revenues grow 6% in 9 months while Q3 budget posts SR30 billion deficit    10 cooperation agreements signed during Saudi-Turkish Business Forum in Istanbul    Quincy Jones, titan of US music, dies aged 91    Enhancing zakat, tax, and customs compliance takes center stage at the Zakat, Tax, and Customs Conference 2024    Neymar expected to join Al Hilal squad for AFC clash against Esteghlal, says coach Jesus    Al Qadsiah secure 2-0 victory over Al Ettifaq in first Eastern Derby since 2021    Hidden sugars in Asia's baby food spark concerns    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



UN Women, W20 call on G20 members to recognize women as drivers of economic recovery
Published in The Saudi Gazette on 22 - 07 - 2020

Amidst a COVID-19 pandemic that is expected to cause an unprecedented global economic downturn, UN Women, the UN entity dedicated to gender equality and the empowerment of women, and Women 20 (W20), the official G20 engagement group on women, recently called on G20 Finance Ministers and Central Bank Governors to put women at the heart of recovery efforts.
In a joint statement, both groups called on addressing women's distinct economic roles, contributions and constraints, and seizing the opportunity to put women at the center of investment design to realize sustainable recovery.
Women contribute 37 percent of the global GDP. Moreover, all types of women's care work, including unpaid work, generate $11 trillion globally (9 percent of global GDP).
Enabling women's potential fully and equally with men promotes sustainable, balanced, inclusive growth, improves the representation of women within institutions and intergenerational development outcomes, and is also crisis-cushioning.
Already encumbered by gendered labor-market disadvantages, women workers have been disproportionately affected by job loss, reduced working hours and bankruptcy due to the current pandemic.
Also, health risks to health workers, paid and unpaid care work and violence against women have escalated with COVID-19 and lockdowns. G20 economies have introduced a firepower support package of $8 trillion to cushion households and businesses and facilitate recovery
Despite evidence that the socio-economic impacts of COVID-19 are worse for women, it is unclear how much the sizable G20 (or non-G20) economic packages have invested in women.
Phumzile Mlambo-Ngcuka, executive director of UN Women said, "Women are drivers of economic recovery and resilience. G20's sizable investments in response to COVID-19 and beyond must be intentional about this and be designed with women at their center in order to realize sustainable rebuilding."
Dr. Thoraya Obaid, Women 20 Chair, said, "While we work to recover from the damage caused by this global crisis, we have an opportunity to correct a historical fault regarding women and their role in the society.
"G20 leaders must grasp this opportunity to enable women's potential fully and equally with men — this is critical to economic recovery now and for future crisis-cushioning."
In their joint statement, UN Women and W20 called on G20 Finance Ministers and Central Bank Governors to implement gender-responsive impact reviews of the crisis, recovery packages and plans worldwide, especially for the worst-affected women and girls, in order to guide investment priorities.
They also appealed for greater fiscal space for countries of the Global South, including through debt relief or cancellation, and expansionary monetary policies that enhance credit availability for women-specific sectors via loan guarantees and other loan instruments as well as greater investment in gender-responsive budgeting.
The organizations also urge G20 Finance Ministers and Central Bank Governors to promote inclusive governance and decision-making, sustainable employment and entrepreneurship, expanded, accessible social safety nets and inclusive, quality, sustainable health care systems and gender-based violence services.
UN Women and W20 concluded, G20 leaders have an opportunity to develop policy responses to the pandemic that immediately address women's roles in healthcare, unpaid care and the workforce. — SG


Clic here to read the story from its source.