Bahamas builds back equal with innovative financing for women's enterprises
The Joint SDG Fund’s programme is paving the way for sustainable economic empowerment in the Bahamas, focusing on women, youth, and people with disabilities. By enhancing access to financial mechanisms, fostering knowledge sharing, and supporting capacity building, this initiative addresses key barriers to achieving gender equality and inclusive development.
Tackling Persistent Inequalities
Despite the Bahamas’ relatively high GDP per capita, women and youth remain disproportionately marginalized. A 2015 study highlighted that women entrepreneurs account for only 8% of the labor force in the Caribbean, with just 1% of these women employing others. Recognizing that financial inclusion is a critical enabler for women’s economic empowerment, the joint programme seeks to pilot innovative financing solutions to bridge these gaps.
The programme’s ultimate goal is not only to support the Bahamas in its post-COVID-19 recovery but also to establish it as a model for leveraging innovative financing vehicles, digital platforms, and frameworks such as the Women’s Empowerment Principles. These tools aim to address financing gaps for women and youth in vital sectors like agriculture, sustainable tourism, and the creative and cultural industries.
Innovative Approach to Gender Equality
In collaboration with the Bahamas Development Bank (BDB), the programme unites several UN agencies—including the UN Entity for Gender Equality and Women's Empowerment (UN Women), the United Nations Development Programme (UNDP), the United Nations Educational, Scientific and Cultural Organization (UNESCO), the Food and Agriculture Organization (FAO), and the UN Joint SDG Fund—to create innovative financial opportunities for underserved groups in The Bahamas.
Central to the programme’s design is the empowerment of women, youth, and people with disabilities. By piloting innovative financing tools, the initiative helps female entrepreneurs access essential capital, reduce investment risks, and accelerate the achievement of the Sustainable Development Goals (SDGs).
Interconnected Solutions for Lasting Impact
The joint programme addresses the structural barriers that hinder public and private investments in women’s and youth entrepreneurship. By combining digital platforms, financing frameworks, and capacity-building initiatives, it creates a robust ecosystem to support inclusive growth.
This initiative represents a critical step forward in ensuring that economic recovery efforts are equitable and sustainable, setting a benchmark for similar efforts globally. By championing innovative approaches to gender equality, The Bahamas is poised to lead by example in creating a more inclusive and empowered society.
This article was first published here. All joint programmes of the Joint SDG Fund are led by UN Resident Coordinators and implemented by the agencies, funds and programmes of the United Nations development system. With sincere appreciation for the contributions from the European Union and Governments of Belgium, Denmark, Germany, Ireland, Italy, Luxembourg, Monaco, The Netherlands, Norway, Poland, Portugal, Republic of Korea, Saudi Arabia, Spain, Sweden, Switzerland and our private sector funding partners, for a transformative movement towards achieving the SDGs by 2030.
