Hoppa yfir valmynd
Ministry of Finance and Economic Affairs

Financing for Gender Equality

Sima Bahous and Bjarni Benediktsson - mynd
Today the Minister of Finance and Economic Affairs met with Ms. Sima Bahous, Executive Director of UN Women, who is in Iceland for the Reykjavík Global Forum – Women Leaders. The Minister and the Executive Director discussed their shared commitment to financing for gender equality and the role that sovereigns play in this endeavour as well as opportunities to amplify the capital markets’ role.

UN Women has a clear vision to increase public and private financing policies, strategies and instruments to advance gender equality by providing tailored policy guidance and capacity building on the mobilization, allocation and spending of high impact financing aligned with gender equality objectives.

While Iceland ranks as one of the most gender equal countries in the world and has topped the World Economic Forum’s Global Gender Gap Index for the past 13 years, there are still persisting gender gaps that need to be addressed. Recognizing the importance that financing plays in achieving gender equality gender responsive budgeting was implemented more than a decade ago and has served as a key tool in enhancing evidence on the gender impact of resource allocation and facilitated more informed decision-making in the budgeting process.

The government also acknowledges the role that capital markets can play in allocating capital towards projects and investments that promote gender equality. Last year the Ministry issued a Sovereign Sustainable Financing Framework that enables the Government to issue sustainable, green, blue, and/or social bonds to finance its activities for climate, environment and social issues, including projects that promote gender equality.

Bjarni Benediktsson, Minister of Finance and Economic Affairs:

“The Government of Iceland is very committed to gender equality and we wish to lead by example and continue being at the forefront in leveraging tools on public finance management in the work towards gender equality. UN Women’s focus on enhancing financing for gender equality is an encouragement for us to keep doing better.”

Sima Bahous, Executive Director of UN Women:

"Financing for gender equality is a critical driver for transformative change in reaching the Sustainable Development Goals and closing gender gaps. UN Women and the Icelandic Ministry of Finance and Economic Affairs share this vision.”

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