In the presence of Luxembourg Minister of Finance Gilles Roth, the Luxembourg Stock Exchange rang the bell for gender equality, celebrating global initiatives for women in finance and the addition of Argentina-based nonprofit development organization Pro Mujer’s ARS 370m gender bond.
The occasion served as a platform to showcase both national and international initiatives aimed at promoting women in finance and facilitating financing for women. The special two-part ceremony took place at the Luxembourg Stock Exchange (LuxSE), where guests from Luxembourg and Argentina gathered to celebrate the first anniversary of the launch of the The Luxembourg Women in Finance Charter.
“The Luxembourg Stock Exchange has long been a pioneer when it comes to promoting gender finance. This year’s event coincided with the launch of the first report on the Luxembourg Women in Finance Charter. The report provides the baseline to measure progress in our financial centre to get more women represented at senior decision-making level,” said Gilles Roth, Luxembourg Minister of Finance.
The occasion also marked the listing of Pro Mujer, a nonprofit development organization based in Argentina, and its ARS370m gender bond, aimed at nurturing economic independence and sustainability for low-income women.
This significant initiative marked Pro Mujer’s debut on the international capital markets with the ARS370m gender bond on LuxSE, symbolizing a significant milestone in advancing gender-focused finance. The gender bond, showcased on the Luxembourg Green Exchange (LGX), serves as a testament to LuxSE’s commitment to facilitating investments with a gender dimension.
Pro Mujer’s gender bond proceeds will empower over 1,300 low-income women entrepreneurs in Argentina, feeding economic independence and sustainability. Through collaboration among LuxSE, Pro Mujer, and UN Women, a comprehensive case study was presented, detailing the bond’s impact on women’s economic empowerment in Latin America and presenting invaluable lessons learned through its issuance.
Financial inclusion for Latin America
Carmen Correa, CEO of Pro Mujer, expressed deep gratitude for the recognition, underscoring the organization’s commitment to innovative financial solutions for Latin American women.
“Throughout our 33 years of history, we have been recognised for our commitment to developing innovative financial mechanisms tailored to the needs of women in Latin America. Last year, we made history in Latin America by becoming the first non-traditional issuer to issue a gender bond. The listing of our gender bond at the Luxembourg Stock Exchange is a recognition that fills us with pride and hope,” said Carmen Correa.
The event at LuxSE was part of the global ‘Ring the Bell for Gender Equality’ initiative, spearheaded by prominent organizations such as the World Federation of Exchanges, UN Global Compact, UN Women, Sustainable Stock Exchanges initiative, and the International Finance Corporation (IFC).
With over 110 exchanges participating worldwide, the campaign underscored the pivotal role of capital markets in fostering gender equality and women’s empowerment in the global economy, showcasing gender bond initiatives by LuxSE.
Now celebrating its 10th year, this global initiative strives to emphasize the vital role that capital markets can play in advancing gender equality and empowering women.
