CDB Partners with 2X Global to advance Caribbean Gender Lens Investing

THE CARIBBEAN Development Bank (CDB/the Bank) said it has engaged 2X Global Limited (2X Global), a global industry body dedicated to advancing gender lens investing, to support the development of a Gender Lens Investing (GLI) Toolkit for the Caribbean, and strengthen regional capacity to integrate gender considerations across the investment cycle.

The initiative forms part of the Caribbean GEMS: Gender Equality for Market Sustainability Project, which seeks to foster a supportive ecosystem for gender lens investing, and expand the landscape of impact investing across the region.

Despite notable gains in education and workforce participation, women entrepreneurs in the Caribbean continue to face barriers in accessing finance. Structural challenges, cultural norms, and limited gender- responsive investment frameworks have contributed to disparities in the growth and financing of women-owned and women- led enterprises. This new collaboration between CDB and 2X Global aims to address these challenges by equipping investors and institutions with practical tools and knowledge to integrate gender considerations into financial decision-making, the CDB release states.

The US$350,000 technical assistance programme, financed through the Bank’s Special Development Fund (SDF) and as part of its Gender Equality Action Plan, will enable 2X Global to design a Gender Lens Investing Acceleration Toolbox tailored to the Caribbean context. The toolbox will consolidate practical tools, templates, and advisory methodologies to improve access to investment and advisory support for women-owned and -led enterprises across the region, in alignment with internationally recognised 2X Global standards.

The initiative will also document and highlight Caribbean-specific case studies and best practices by supporting five companies or funds through the 2X Certification process. These case studies will showcase the pathways, challenges, and outcomes of integrating a gender lens into investment practices, while demonstrating replicable models that can be scaled across the Caribbean.

In addition, the CDB said the initiative, signed on March 5, ahead of International Women’s Day, will support the development of a Caribbean-focused GLI Digital Academy and regional training system.

This platform will provide learning resources and training opportunities to strengthen the capacity of investors, institutions, intermediaries and policymakers to apply the 2X Global criteria and advance gender lens investing throughout the region.

Division Chief, Private Sector Division, at the CDB, Lisa Harding, underscored the importance of the initiative, which aligns with the Bank’s Private Sector Strategy goal to address gender challenges regarding access to finance, capacity building and networks.

“Through the Caribbean GEMS project, the Caribbean Development Bank is putting women entrepreneurs at the heart of economic transformation, empowering them to scale, innovate, and build resilient enterprises. This initiative also leverages our strategic partnership with 2X Global to amplify results,” she said.

Chief Executive Officer of 2X Global, Jessica Espinoza, added: “Deepening our partnership with the Caribbean Development Bank through this initiative is an exciting step for 2X Global. By developing practical tools, supporting companies through the 2X Certification process, and building regional training platforms, we aim to strengthen the gender lens investing ecosystem and support women-owned and women-led enterprises across the Caribbean to access the capital they need to scale and thrive”.

In 2023, the Caribbean Development Bank joined 2X Global, becoming part of a global network working to increase both the volume and impact of capital directed toward women’s economic empowerment worldwide.

“Through this partnership with 2X Global, CDB aims to help accelerate the growth of gender-responsive investments, support women-led enterprises, and foster more inclusive economic development across the Caribbean. The collaboration builds on CDB’s commitment to inclusive and sustainable development and complements existing initiatives, such as the Bank’s SheTrades Caribbean Regional Hub for women entrepreneurs,” the Bank concluded.