KINGSTON, Jamaica, CMC – The Development Bank of Jamaica (DBJ) says it has become a member of the UK-based 2X Global and describes itself as a global membership and field-building organization for investors, capital providers, and intermediaries working in public and private markets across both developed and emerging economies.
DBJ said that its members would allow it to participate in the multiple Communities of Practice (COPs), which operate as committees that discuss, develop, and share strategies on how to invest in women through the gender-smart deployment of capital in areas such as finance, digitization, climate, diversity, equality, and justice.
It said affiliation with 2X Global would allow the DBJ to access peer learning networks, knowledge, co-investment platforms, partnership and training opportunities, and innovative investment tools.
“The DBJ’s membership in 2X Global provides a unique opportunity for the bank to interact and network with other development financing institutions and private banks in creating informed services and products for our stakeholders,” said Deborah Newland, DBJ’s general manager of the Strategic Services Division, who piloted the membership process.
“Our initial membership is for one year initially, and we intend to maximize our opportunities to leverage support from 2X, especially in gender and climate as relatively new areas of focus for the bank. We look forward to participating in initiatives like the 2X Gender and Climate Finance Taskforce that drive gender and climate-smart investing in these areas, and our membership is being treated as renewable,” she added.
The DBJ said that as part of its environmental and social management system, a Gender Equality Policy and Action Plan (GEPAP) was developed that outlines the organization’s commitment to actively promote gender equality in all areas of its activities, both within the bank and with its partners.
It will also provide an enabling environment for women and men while strengthening gender sensitivity and promoting gender equality among its stakeholders.
“This further aligns our work with Jamaica’s country strategy as outlined in Vision 2030 Jamaica (The National Development Plan, the 2009 National Gender Strategy, and the Sustainable Development Goals,” Newland said.
DBJ’s managing director Anthony Shaw said the financial institution is a forward-looking organization that is very responsive “to the needs of our local business sector and positive trends in the development community.
“As a development financing institution, we have always been serious about gender, environmental, and climate-related matters, and therefore, our membership in 2X Global is a natural progression,” he added.
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