Title of RFP
Gender and the intersectionality of various forms of social underrepresentation: development of a framework, an approach and recommended actions for development finance institutions (DFIs)
RFP Submission dates
- Expression of Interest: September 20, 2021
- Full Proposal: November 12, 2021
Intersectionality refers to the interconnected nature of social categorisations such as race, class and gender as they apply to a given individual or group regarded as creating overlapping and interdependent systems of discrimination or disadvantage. Events around the world and the resultant momentum of the Black Lives Matter (“BLM”) movement in 2020, have highlighted the painful fact that social inequality, discrimination and disadvantage still deeply permeate our societies and institutions.
Development finance institutions (“DFIs”) members of the 2X Plus Task Force have committed to providing the 2X Challenge members with the technical support to build a “2X Plus” framework, which will enable 2X Challenge members to assess intersectionality and the opportunities to enhance fair representation and inclusion in investments that meet the 2X Challenge Criteria.
The 2X Challenge is an initiative and commitment from the G7 DFIs, launched in 2018, to mobilise capital for private sector investments that support the world’s women. The initiative seeks to support businesses that provide women in emerging economies with access to financing, leadership opportunities, quality employment, and products and services that enhance their economic participation and inclusion. Over time, additional financial institutions have joined or adopted the 2X Challenge. The initiative had set itself the target to collectively mobilize $3 billion in investments that empower women by 2020 and has reached and overshot this target in June 2020. A new target of mobilizing $15 billion in investments that empower women by 2022 has been set. Besides a bold commitment, the 2X Challenge has offered a pragmatic way to identify investments that empower women, by proposing five “2X Criteria”: Entrepreneurship, Leadership, Employment, Consumption and Indirect investments (investments through financial intermediaries). See the 2X Challenge website for more information on the criteria.
Events of 2020 highlighted the social inequalities in society, both because of the COVID-19 pandemic that increases inequalities, as well as the Black Lives Matter movement. It has shown the importance for public as well as private organizations to take action. The 2X Challenge members have created a “2X Plus Task Force” on the intersectionality of diversity, equity and inclusion (“DEI”) of underrepresented groups to reflect on what an intersectional approach to gender equality in the private sector could look like in the emerging markets where DFIs invest. The 2X Plus Task Force understands that social inequality is a complex and sensitive topic, and that its manifestations vary by country and regions.
To fully understand the complexity and developing an appropriate approach, the 2X Plus Task Force recommends securing expert help from a consultant or consortium of consultants reflective of the Target Regions where DFIs operate. FinDev Canada (as a member of and on behalf of the 2X Plus Task Force) is conducting this RFP on behalf of the Task Force.« Back to Member News