Gender-based violence (GBV) continues to be a global issue despite international efforts to combat it. On the International Day for the Elimination of Violence Against Women, several multilateral development banks issued a joint statement addressing this persistent problem. The Asian Development Bank, Asian Infrastructure Investment Bank, Caribbean Development Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, New Development Bank and World Bank Group came together to highlight the urgent need for action.
According to the statement, "one in three women globally experience physical or sexual intimate partner violence in their lifetime." This statistic underscores the widespread nature of GBV that affects women's lives at home and in public spaces like transportation and workplaces. The increase in cyberviolence is also noted as a growing concern.
The economic impact of GBV is significant. The statement highlights that "workplace harassment and violence against women cost the global economy an estimated US$6 trillion annually." The effects are not just financial; victims often suffer from physical and mental health issues which affect their long-term well-being. Economic stability is compromised as survivors may find it challenging to secure stable employment.
The participating banks acknowledge that eliminating violence against women can unlock development potential and boost global economic growth. They express their readiness to collaborate with various stakeholders including governments and civil society organizations to address these challenges.
In their commitment, they pledge to expand programs aimed at preventing GBV and supporting survivors. This includes enhancing access to justice for survivors and improving data collection systems related to GBV incidents. Furthermore, they aim to strengthen private sector capabilities in responding effectively to such issues.
The joint statement concludes with a call for unity: "On this International Day for the Elimination of Violence Against Women, we stand united in our efforts to create a world where women and girls live free from violence."