The Inter-American Development Bank announced today it has earned the Economic Dividends for Gender Equality (EDGE) certification, a global assessment methodology and business standard for gender equality.
A leading source of long-term financing for development projects in Latin America and the Caribbean, the IDB is the world’s first regional development bank to receive the EDGE Certification, which recognizes how organizations foster fair and diverse workplaces.
“We are honored to be credited for our commitment to gender equality, both within our organization and in the operations we finance throughout the region,” said IDB President Luis Alberto Moreno. “I hope our participation in EDGE will encourage other public and private employers in Latin America and the Caribbean to create a culture that fosters equal opportunities for women and men.”
The EDGE Certified Foundation uses a rigorous methodology to assess how organizations perform in terms of equal pay for equal work; recruitment and promotion; leadership development and mentoring; flexible working arrangements; and company culture. Their goal is to help organizations create optimal workplaces for both men and women.
As an employer, the IDB is committed to hiring and retaining top female talent, as well as to using transparent and meritocratic pay and promotion policies. Since 2008, it has increased the percentage of women in the top four professional grades from 29% to 38%. By 2019, it expects women to hold 43% of its senior management positions.
“Our ability to partner effectively with clients is linked to our capacity to attract and retain a diverse group of top-notch people,” said IDB Human Resources General Manager Claudia Bock. “That’s why we’re creating a culture that embraces gender equality, recognizes people’s changing needs and gives them tools to balance the demands of work and family.”
The IDB and its private sector arm, the Inter-American Investment Corporation, actively promote closing the gender gap in Latin America and the Caribbean. Over the past year, the IIC assisted clients in Costa Rica, Ecuador and Peru who were also seeking to be certified by EDGE.
“This certification affirms the IDB’s commitment to gender equality,” said Aniela Unguresan, co-founder of the EDGE Certified Foundation. “By measuring, benchmarking and formulating a transformative action plan, the Bank has reached a major milestone in its quest to build a more inclusive culture.”
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
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