On Friday, March 8, International Women’s Day will commemorate efforts to achieve gender equality globally through the United Nations’ annual campaign. The theme for this year is “Invest in women: Accelerate progress.”

The concept is that by promoting financial security for women, significant progress can be made in achieving equality.

According to Jemimah Njuki, head of the economic empowerment division at U.N. Women, this year’s focus is particularly significant as the global community faces a critical point in achieving gender equality.

She noted that globally, women’s rights are increasingly coming under threat, or being rolled back, even in places where leaders thought they had made progress. According to U.N. Women, one in every 10 women today lives in extreme poverty. Their studies show that about 340 million women and girls — 8 percent of the world’s female population — will not have moved out of extreme poverty by 2030 if trends continue.

One of the main focuses of this year’s International Women’s Day is “implementing gender-responsive financing.” This economic plan takes into account the different needs of all individuals, including the lack of investment in essential services for women and girls, in order to achieve a just distribution of resources.

During crises, women are typically responsible for managing the care and finances within a household, placing a greater burden on them due to heightened demands on care systems and governmental resources.

Based on U.N. Women’s 2023 Progress on the Sustainable Development Goals report, there is a shortage of $360 billion in government funding for organizations and initiatives that aid women.

Ambassador Keisha McGuire, the Special Envoy and Special Adviser on Gender Equality and Women’s Empowerment for the United Nations General Assembly President, discussed how the president of the GA is working to “mainstream gender” in the assembly’s work to build a space where both men and women can thrive. McGuire noted there are major barriers in the international system because it was not built with a gender lens, making the prioritization and funding of gender equality efforts all the more imperative.

McGuire stated that the successful implementation of any initiative heavily relies on funding. Merely discussing gender mainstreaming and gender-responsive policies is insufficient if the necessary investments are not made to bring them to fruition. Without proper funding, the goal cannot be achieved.

Certain non-governmental organizations strive to close this divide by financing initiatives or offering loans to women.

Robyn G. Nietert, the co-founder and president of the Women’s Microfinance Initiative, offers microloans to women in impoverished, rural regions of Uganda, Kenya, and Tanzania. According to Nietert, providing women with loans to begin their own enterprises leads to better living conditions for their households and help for their families.

According to Nietert, being economically active is essential for survival. If a person is not earning money, they must find another way to meet their basic needs such as food, water, and shelter. Therefore, every loan provided can be considered a success story because it gives opportunities to those who have nothing and allows them to establish a financial foundation to potentially start a business.

The organization called Women’s Microfinance Initiative offers instruction on financial literacy to help women learn how to handle their funds once obtained.

According to Nietert, this phenomenon gives individuals a sense of agency over their own lives. However, he also recognizes the potential for exploitation by groups that purport to offer loans.

Nietert explained that the concept of exploitation in the lending industry is not difficult to understand. He emphasized the excessive nature of things such as interest rates, fees, and collateral requirements, as well as the lack of leniency and potential loss of collateral that can prevent individuals from escaping debt.

Additionally, she mentioned that being employed in smaller, rural areas promotes trust and builds social capital. This is reinforced by the women within these communities to guarantee repayment of loans.

According to Nietert, the loans provide a sense of stability and security, allowing women to focus on important matters in their lives, such as caring for their children and maintaining their health.

Beverley Francis-Gibson, the chief executive officer of Together Women Rise, an organization that provides funding to empower women and girls in impoverished nations, recounted a personal story from her trip to view the four TWR-funded organizations in India that support young girls.

According to Francis-Gibson, the girls told us that they are viewed as heroes in their community. Each girl had a goal of making a positive impact not just for their family, but also for themselves. Some aspired to be parliament members, others wished to pursue a career in international business, and some were interested in becoming lawyers.

Her experiences have confirmed her belief that investing in women and girls empowers them, resulting in a better world with improved health, safety, peace, and economic justice.

International Women’s Day promotes governments’ full engagement in meeting the diverse needs of women around the world. This involves collaborating with the private sector and civil society to make well-informed decisions that will effectively support women.

Francis-Gibson stated that improving the state of the world and communities is done by empowering individual girls and women. However, it is important to acknowledge and tackle the underlying issues, also known as systemic barriers, that hinder women and girls from reaching their full potential.

International Women’s Day, like other committees and U.N. events, aims to unite individuals in addressing these matters as a key component of the larger Sustainable Development Goals for global cooperation.

“What is our goal? We are establishing the necessary environment and promoting influential thinkers,” McGuire explained. “The United Nations holds significant control in gathering people, and we must consistently take advantage of every opportunity to merge our ideas and strongly advocate for the essential investments needed.”

Njuki, from U.N. Women, emphasized the importance of recognizing the fundamental role women play in order to effectively bring about lasting equality.

Njuki emphasized that it’s important for the world to recognize that women are disproportionately affected by crises, including those related to climate change and conflicts. As more and more women are impacted by conflict, it’s crucial to invest in them in order to effectively address these issues. By investing in women, society can make more progress and become more peaceful.

Source: voanews.com