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IFC Forms Innovative Partnership with Key Global Companies to Promote Better Childcare Plans


In Washington, D.C.
Elizabeth Gibbens
Phone: +1 202 473-1616
E-mail: egibbens@ifc.org

Washington, D.C., September 19, 2016—IFC, a member of the World Bank Group, and 11 leading companies from around the world today launched Tackling Childcare, an innovative partnership to promote better career opportunities for working parents and to accelerate the spread of best practices for employer-sponsored childcare.

Better and more affordable childcare is increasingly regarded as important for economic growth. When mothers and fathers can participate equally in the workforce, companies grow and economies develop.

For businesses, benefits can include reduced absenteeism and turnover and higher job satisfaction, productivity, and employee retention.

“Investing in employees’ childcare needs is good for business and good for development,” said Henriette Kolb, head of IFC’s Gender Secretariat. “To move the needle, we have to stop treating childcare as a side issue, or a women's issue—we must address it as the government and corporate priority that it is.”

Through Tackling Childcare, IFC and its partners will produce a report showing how employer-supported childcare promotes productivity, what type of support works, and why—in bottom-line figures—companies should help provide childcare for their employees. The initiative is one of the first partnerships bringing together companies from different industry sectors to jointly address the business case for childcare.  Participating firms include AeroMéxico, Afrifresh, Danone Nutricia Early Life Nutrition Italy, Dialog Axiata PLC, Grupo M, HBL Bank, MAS Active – Al Safi Madaba, Mindtree, Pandurata Alimentos Ltda., Safaricom, and Sumitomo Chemical.  

In addition, by collaborating with some of IFC’s strategic partners—Care.com, the Institute for Women’s Policy Research, the International Labour Organization, Kidogo, the UN Global Compact, and UN Women—IFC will share methodologies, frameworks and childcare solutions that companies can use to test and measure the actual and projected impact of their childcare interventions.

The private sector, which accounts for nine of 10 jobs in developing countries, is vital to creating better jobs. Tackling Childcare is part of IFC’s broader effort to help companies address gender gaps in employment, and thereby drive gains in productivity, competitiveness, and innovation.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

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