‘Ring the Bell for Gender Equality’: Georgian Financial sector again joins the global initiative

With the support of UN Women, the Georgian Stock Exchange and the International Finance Corporation (IFC), Georgia once again joined the annual global initiative “Ring the Bell for Gender Equality”. The special event, which has already become a tradition, this time was dedicated to the importance of financial products and services adapted to the needs of women, as well as to the consideration of gender factors in the process of their development.

The participants of the event were Kaori Ishikawa, UN Women Country Representative in Georgia; Ivana Fernandes Duarte, IFC Regional Manager for the South Caucasus; Marko Soldic, Deputy Head of Mission of the Norwegian Embassy in Georgia; Nino Kurdiani, acting CEO of the Georgian Stock Exchange; Papuna Lezhava, Vice Governor of the National Bank of Georgia; international representatives of the local financial sector; and members of business associations.

“In recent years, significant steps have been taken in the direction of gender equality in Georgia,” Ms. Kurdiani noted at the event, “but signs of discrimination in various forms continue to be a challenge. Economic violence and unequal access to property are issues that must be addressed as a priority for a developed society. Increasing access to financial products creates a lever that can accelerate women’s involvement in the economy and use the untapped potential of GDP growth.”

In Georgia, women face a number of barriers in the process of accessing finances: they often do not have access to the property necessary for financial security, they do not have the knowledge, skills and connections necessary to start and develop a business, and they still have to deal with stereotypes in society, among other barriers. Accordingly, the consideration of gender characteristics can play an important role in promoting women’s entrepreneurship.

At the panel discussion, representatives of international financial institutions focused on such topics as gender-sensitive financial products and services, the challenges faced by women entrepreneurs in Georgia, and other issues. After the panel discussion, experts invited from TEB, one of the largest banks in Türkiye, held a working meeting with their Georgian colleagues, during which they introduced in practical terms the peculiarities of the process of creating products and services tailored to women.

The event was part of the Women’s Economic Empowerment component of the project “Good Governance for Gender Equality in Georgia”, which is supported by the Government of Norway.