Global Gateway Strategy Advances Women’s Economic Empowerment and Sustainable Development

Introduction

In alignment with the United Nations Sustainable Development Goals (SDGs), particularly SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 13 (Climate Action), and SDG 10 (Reduced Inequalities), the European Investment Bank (EIB), European Commission, and Luxembourg Government, together with key partners, have launched strategic initiatives to empower women entrepreneurs and promote sustainable economic activities across Africa, Asia, Latin America, the Caribbean, and the Pacific.

Key Initiatives and Partnerships

• Support for female entrepreneurship in Africa, Asia, and Latin America.
• Collaborative efforts under the Global Gateway gender priorities involving the European Investment Bank, Government of Luxembourg, Gates Foundation, World Bank’s Consultative Group to Assist the Poor (CGAP), and International Labour Organization (ILO).
• Signing of a €20 million agreement in Seville with Banque El Amana in Mauritania to enhance financial inclusion for women-led businesses in the blue economy.

Strategic Focus Areas

1. Women’s Empowerment and Economic Inclusion
   • Targeted investments to support female-owned and led businesses.
   • Enhancement of financial inclusion for women, particularly in sectors such as agriculture, climate action, energy, and the blue economy.
2. Climate Resilience and Sustainable Development
   • Projects aimed at building resilience against climate change and food insecurity.
   • Support for sustainable fishing value chains and climate-resilient agro-industries.
3. Job Creation and Growth Opportunities
   • Promotion of new employment opportunities through women-led enterprises.
   • Investment in clean energy SMEs serving women and low-income households.

Statements from Key Leaders

• Nadia Calviño, EIB President: Emphasized that investing in women leads to more prosperous and peaceful societies, highlighting the importance of projects in health, entrepreneurship, agriculture, climate action, and energy under the Global Gateway.
• Jozef Síkela, European Commissioner for International Partnerships: Stressed women’s empowerment as a driver of global development and the role of the Global Gateway in providing financial resources and technology access to women entrepreneurs.
• Xavier Bettel, Minister for Development Cooperation and Humanitarian Affairs of Luxembourg: Highlighted financial inclusion as key to resilient and sustainable societies and Luxembourg’s commitment to innovative finance solutions for women.
• Mark Suzman, CEO of the Gates Foundation: Announced support for affordable loans to women micro-entrepreneurs in East Africa to foster business growth and community development.
• Sophie Sirtaine, CEO of the World Bank’s CGAP: Advocated for catalytic capital to empower women’s financial inclusion, resilience, and autonomy.
• Craig Churchill, Chief of the Social Finance Programme at the ILO: Underlined the importance of financial inclusion for women-led businesses to promote decent work and sustainable development.

Project Examples Supporting SDGs

• ETG Group (Africa): Assists women farmers to increase productivity and develop climate-resilient agro-industries (SDG 2: Zero Hunger, SDG 13: Climate Action).
• Mirova Gigaton Fund: Invests in clean energy SMEs in emerging markets, focusing on women and low-income households (SDG 7: Affordable and Clean Energy, SDG 5: Gender Equality).
• Banque El Amana (Mauritania): Supports women-led businesses in the blue economy, particularly sustainable fishing (SDG 14: Life Below Water, SDG 5: Gender Equality).

Alignment with International Frameworks

• Contributes to the EU Gender Action Plan for External Action (GAP III) aimed at empowering women and girls globally.
• Supports the 2X Challenge, a multilateral commitment to invest $20 billion in women over three years.
• Integrates with the EU’s Global Gateway strategy to mobilize up to €300 billion in public and private investments from 2021 to 2027, fostering sustainable development and gender equality.

Background on the Global Gateway and EIB

The Global Gateway is the European Union’s strategic initiative to reduce global investment disparities by promoting smart, clean, and secure connections in digital, energy, and transport sectors, as well as strengthening health, education, and research systems. The EU-Africa Global Gateway investment package allocates €150 billion to accelerate Africa’s digital and green transitions, sustainable job growth, and stronger health systems.

The European Investment Bank (EIB) is the EU’s long-term lending institution, financing projects that support EU policy objectives including sustainable development, innovation, social cohesion, and climate neutrality. The EIB Group actively integrates gender equality and women’s economic empowerment into its operations, having financed 43 projects in 2024 with a total investment of €3.39 billion contributing significantly to these goals.

1. Sustainable Development Goals (SDGs) Addressed in the Article

1. SDG 5: Gender Equality – The article focuses extensively on women’s empowerment, financial inclusion, and female entrepreneurship, directly addressing gender equality.
2. SDG 1: No Poverty – By supporting women-led businesses and financial inclusion, the initiatives aim to reduce poverty.
3. SDG 8: Decent Work and Economic Growth – The promotion of women’s entrepreneurship and job creation in agriculture, energy, and blue economy sectors supports sustained economic growth and decent work.
4. SDG 2: Zero Hunger – The article mentions women’s role in food security and agricultural value chains, contributing to ending hunger.
5. SDG 13: Climate Action – Investments focus on climate resilience, clean energy, and sustainable economic activities, linking to climate action.
6. SDG 7: Affordable and Clean Energy – Support for clean energy SMEs serving women and low-income households aligns with this goal.
7. SDG 14: Life Below Water – The focus on the blue economy and sustainable fishing value chains connects to the sustainable use of oceans and marine resources.

2. Specific Targets Under Those SDGs Identified in the Article

1. SDG 5: Gender Equality
   • Target 5.5: Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in economic life.
   • Target 5.a: Undertake reforms to give women equal rights to economic resources, including access to ownership and control over land and other forms of property, financial services, inheritance, and natural resources.
2. SDG 1: No Poverty
   • Target 1.4: Ensure that all men and women have equal rights to economic resources, access to basic services, ownership, and control over land and other forms of property.
3. SDG 8: Decent Work and Economic Growth
   • Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
   • Target 8.5: Achieve full and productive employment and decent work for all women and men.
4. SDG 2: Zero Hunger
   • Target 2.3: Double the agricultural productivity and incomes of small-scale food producers, particularly women.
5. SDG 13: Climate Action
   • Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters.
6. SDG 7: Affordable and Clean Energy
   • Target 7.1: Ensure universal access to affordable, reliable, and modern energy services.
7. SDG 14: Life Below Water
   • Target 14.7: Increase the economic benefits to Small Island developing States and least developed countries from the sustainable use of marine resources.

3. Indicators Mentioned or Implied in the Article to Measure Progress

1. Financial Inclusion Indicators
   • Number and value of loans provided to women micro-entrepreneurs (implied by Gates Foundation’s support for affordable loans).
   • Access to financial services by women-led businesses (implied through Banque El Amana’s €20 million deal).
2. Women’s Economic Empowerment Indicators
   • Number of women-led businesses supported and their employment rates.
   • Investment amounts directed towards women’s entrepreneurship and female-owned SMEs.
3. Climate Resilience and Sustainable Development Indicators
   • Number of projects supporting climate-resilient agriculture and clean energy SMEs serving women and low-income households.
   • Progress in sustainable fishing value chains and blue economy initiatives.
4. Gender Equality in Leadership and Participation
   • Participation rates of women in leadership roles in economic sectors targeted by the investments.
5. Investment Mobilization Indicators
   • Total amount of public and private investments mobilized under the Global Gateway strategy targeting gender equality and women’s empowerment.

4. Table: SDGs, Targets and Indicators

Source: europeansting.com