Almost seventy years since it was first recognized as a universal right, in 1948, gender equality is still far from being a done deal. Indeed, despite representing 50% of the labor workforce, women are responsible for just 37% of the world’s GDP. According to the World Economic Forum, a series of measures are expedited, economic gender equality will not be achieved for another 170 years.
For the first time ever, there is broad international consensus about the urgency of making progress towards gender equality: Goal 5 in the UN’s Agenda 2030 for sustainable development is the achievement of gender equality and empowering of all women and girls. The universal nature of the Sustainable Development Goals represents a call to all countries (irrespective of their level of development) that requires the involvement of agents on all sides of the social spectrum, including the private sector. The BBVA Microfinance Foundation is committed to the UN Agenda, is a member of the SDG Fund’s Private Advisory Group and was recently granted consultative status with ECOSOC.
This non-profit organization, created in 2007 by BBVA Group within the framework of its CSR efforts, provides support to the business initiatives of over one million vulnerable women in Latin America (60% of its total portfolio).