Gender inclusive finance comes under the spotlight in Skopje 

On 1 October, AFI Chief Executive Officer Dr Alfred Hannig explored how to advance gender inclusive finance in Southeast Europe with a panel of five female central bank governors from across the region. 

The conversation took place during an event entitled Central Banks and Central Banking in a Highly Complex World: Demonstrating Commitment and Preserving Credibility, co-organized in Skopje by the National Bank of the Republic of North Macedonia (NBRNM) and the Reinventing Bretton Woods Committee. The event featured speakers from European central banks, international stakeholders and development partners including the IMF, World Bank, European Investment Bank and EBRD, as well as academic institutions. 

“Gender inclusivity is an issue for everyone,” said Dr Hannig. “If we are fighting to increase the representation of women in business, financial services and policymaking, it is because society as a whole benefits from women’s empowerment.” 

“Whereas five years ago, this discussion would have focused on regulatory barriers, today, we also recognize the importance of addressing legal and societal barriers to achieve true gender inclusivity.”                                                                                         

NBRNM Governor Anita Angelovska Bezhoska highlighted the significant gender access gap in financial services, with men holding a majority of accounts and credit portfolios: “According to the World Economic Forum, we are 130 years away from closing the gender gap. This clearly underlines a need of intensified policy actions to address the structural barriers that hinder women’s economic participation. While there are activities needed outside the central bank’s perimeter, we can lead by example in promoting financial inclusion.“ 

The panel also featured the Governors of the central banks of Serbia, Montenegro, Bosnia and Hercegovina, and Moldova, each of whom echoed the call to increase women’s access to financial services and to foster inclusive growth.