Within the framework of the XVI Regional Conference on Women in Latin America and the Caribbean, ECLAC, CAF and the IDB, together with the Governments of Chile and Mexico, presented the Care Policies and Systems Investment Accelerator in Latin America and the Caribbean. Senior authorities from the institutions, government representatives, and strategic partners of the initiative — UN Women, ILO, UNDP, the Global Alliance for Care, BMZ/GIZ, and the Wellspring Philanthropic Fund — took part in the event.

As part of the XVI Regional Conference on Women in Latin America and the Caribbean, ECLAC, the Development Bank of Latin America (CAF), the Inter-American Development Bank (IDB), the Government of Chile, in its capacity as Chair of the Regional Conference on Social Development in Latin America and the Caribbean and of the Regional Intergovernmental Conference on Ageing and the Rights of Older Persons, and the Government of Mexico, as host country of the XVI RCW, organized the side event “Care Policies and Systems Investment Accelerator in Latin America and the Caribbean.” Senior authorities of the institutions and representatives of the countries leading this initiative, as well as partner organizations — UN Women, ILO, UNDP and the Global Alliance for Care — and other strategic partners — BMZ/GIZ and the Wellspring Philanthropic Fund — participated in the event. The event was supported by the Government of Germany through the ECLAC-BMZ/GIZ Cooperation Programme.

The event was moderated by Ana Güezmes, Director of the Division for Gender Affairs of ECLAC, who explained that this multi-stakeholder initiative, presented at the Seville Action Platform, seeks to promote and increase investment in the financing of comprehensive care policies and systems through cooperation between the Economic Commission for Latin America and the Caribbean, regional, subregional and national development banks, and other development actors.

Panelists included José Manuel Salazar-Xirinachs, Executive Secretary of ECLAC; Alejandra Claros Borda, Secretary General of CAF; Diana Rodríguez, Special Advisor on Gender and Diversity to the President of the IDB; Enrique Ochoa Martínez, Undersecretary for Multilateral Affairs and Human Rights of the Government of Mexico; and Antonia Orellana, Minister for Women and Gender Equality of the Government of Chile. Commentators were María-Noel Vaeza, Regional Director of UN Women; Ana Virginia Moreira, Regional Director of the ILO; Silvia Morimoto, Resident Representative of UNDP in Mexico; Ana Moreno, Technical Secretary of the Global Alliance for Care; Silke Silva-Meléndez, First Secretary for Cooperation at the Embassy of Germany in Mexico; and Gaby Oré, Senior Program Officer of the Wellspring Philanthropic Fund.

José Manuel Salazar-Xirinachs, Executive Secretary of ECLAC, recalled that in the initial discussions on this initiative, the need to mobilize resources, establish credit lines and other tools in collaboration with development banks was emphasized. He also stressed that care must be fully incorporated into state planning and budgeting. He highlighted the importance of sustainable financing and the use of cost projections to establish investment scenarios aimed at closing gender gaps and implementing policies, based on the Care Policies Investment Simulator developed by the ILO, updated with information for 23 countries in the region in collaboration with ECLAC.

For her part, the Secretary General of CAF noted that care should not be considered solely as a social issue, as it also generates jobs, wages and fiscal revenues. She emphasized that care systems enable women to participate in the labour market, which is key to closing gender gaps. She concluded by stating that for CAF, care is a strategic priority and will be part of the institution’s financing strategies.

The Special Advisor on Gender and Diversity to the President of the IDB indicated that the “IDB Cares” initiative introduces an innovative approach that offers support to governments, the private sector and entrepreneurs, aiming to respond more swiftly and to promote the prioritization of actions. She underlined that development banks can also mobilize the private sector, scale up good practices, contribute to the sustainability of care programs beyond changes in government, and strengthen work through evaluations. She concluded by stressing that the Accelerator requires coordinated work among its entities in order to jointly engage in dialogue and articulate actions with governments.

Enrique Ochoa, Undersecretary for Multilateral Affairs and Human Rights of Mexico, stated that his country is building a solid foundation for the development of a national care system, which is one of the 100 Commitments that reflect the national government’s priorities. He stressed that mobilizing both domestic and external resources, public and private, is essential. He concluded by pointing out that decisive political action and the allocation of financial resources are fundamental conditions for building a care society. These issues were central to the discussions in the following days at the XVI Regional Conference on Women in Latin America and the Caribbean: transformations in the political, economic, social, cultural and environmental spheres to advance the care society and gender equality.

Meanwhile, Antonia Orellana, Minister for Women and Gender Equality of the Government of Chile, highlighted her country’s progress, including major legislative reforms and multiple concrete initiatives, such as the expansion of the local care support network and the creation of elder care facilities. She underscored that the Accelerator is conceived as a tool to transform commitments into concrete actions leading to progress towards equality, noting that the technical tools provided by international cooperation are key to accelerating results, and that the institutions involved in this initiative play a crucial role in coordinating the implementation of the Regional Gender Agenda.

In the comments round, María Noel Vaeza, Regional Director of UN Women, emphasized that in addition to prioritizing the financing of care policies, the initiative advances a new social contract that places life at the center, considering care as part of social protection. Ana Virginia Moreira, Regional Director of the ILO, highlighted the results of the joint work with ECLAC on the ILO Care Policies Investment Simulator, which produced investment scenarios to 2035. She underscored the job-creation potential of these investments and their ability to reduce gender gaps. She stressed that the limited fiscal space requires decisive action to mobilize financial resources and that the Accelerator is a strategic initiative for this purpose. The UNDP Representative pointed out that the Accelerator is envisioned as a space capable of linking the care agenda with the climate agenda, maximizing the benefits of both, while the Technical Secretary of the Global Alliance for Care stressed that the essence of the Accelerator lies in the multidimensionality of its stakeholders.

In this connection, the representative of the Embassy of Germany in Mexico stated that the Accelerator is an initiative that brings together capacities and maximizes resource mobilization through a coordinated approach. Finally, the Senior Program Officer of the Wellspring Philanthropic Fund noted that at the Fourth International Conference on Financing for Development, the role of philanthropic organizations in development financing was discussed, recognizing that while they will not solve the problem alone, they can act as catalysts for mobilizing additional resources.

Ana Güezmes, Director of the Division for Gender Affairs of ECLAC, closed the event by inviting all countries and new partners to participate in the initiative. She also indicated that, in terms of specific actions, following this event the proposal will be presented in other regional and international forums; a meeting of finance ministry authorities will be held on financing the care economy; a community of practice will be established; and a joint report on care investments will be prepared.