Massive yearly deficit of US$420 billion hindering female equality in developing nations
Headline: UN Women Urges Action to Close $420 Billion Gap in Funding for Gender Equality
The Fourth International Conference on Financing for Development (FfD4) in Sevilla, Spain, has concluded, with world leaders reaffirming their commitment to inclusive and sustainable development through the adoption of the Compromiso de Sevilla. However, a significant obstacle remains in achieving these commitments: a $420 billion gap in funding needed for gender equality under the Sustainable Development Goals (SDGs).
UN Women, the United Nations entity dedicated to gender equality and the empowerment of women, is urging governments and financial institutions to take action to address this gap. The organization is emphasizing the need for sustained financing to address the shortfall, as well as policy action to redirect and enhance the impact of investments in gender equality.
One of UN Women's key recommendations is to move from promises to tangible, sustained investment that directly benefits women and girls most in need, particularly in the poorest countries where financing currently bypasses them. This includes reallocating resources toward women’s rights and gender-responsive services.
Another recommendation is the need for consistent and targeted investment over the next decade to close gender gaps, unlock economic and social opportunities, and ensure no one is left behind. Acknowledging gender equality as essential to sustainable development and inclusive economies, UN Women is urging world leaders to prioritize gender equality within financing strategies.
The adopted Compromiso de Sevilla reflects a shared commitment by UN Member States to prioritize gender equality within financing strategies, signaling progress but urging further financial commitment and policy alignment. Governments and financial institutions should reorient global finance flows toward gender equality, ensuring funding reaches low-income women in developing countries who face the greatest barriers.
UN Women also stresses the need for political leadership, comprehensive policy reforms, and incorporation of gender equality as a cross-cutting priority in national policies, budgets, and investment strategies to dismantle systemic barriers to gender equality. Empowering women through roles in peacebuilding and economic participation, expanding access to technology, and addressing inequalities in education and leadership are also highlighted as necessary areas alongside funding increases to achieve sustainable gender equality outcomes.
The current gap underscores the deep and chronic underfunding of women's rights and services and signals the urgent need for governments and financial institutions to reallocate resources accordingly. Only one in four countries has systems in place to track how public funds are allocated to gender equality, making it difficult to assess the impact of current investments and identify areas for improvement.
UN Women is putting forth concrete recommendations to accelerate progress for women and girls and towards the 2030 Agenda for Sustainable Development commitments. The organization is urging world leaders to match political commitments with sustained, transparent, and accountable financing to close the $420 billion gap in funding for gender equality. The time for action is now.
- UN Women is urging governments and financial institutions to allocate funding directly towards women and girls most in need, as part of their action plan to close the $420 billion gap in financing for gender equality under the Sustainable Development Goals (SDGs).
- In light of the current gap in funding, UN Women is advocating for additional, consistent, and targeted investment over the next decade to unlock economic and social opportunities for women, and ensure no one is left behind in the pursuit of sustainable gender equality outcomes.
