The World Bank Group has announced the initial steps for implementing its Gender Strategy 2030, aiming to enhance economic opportunities for women globally. This announcement was made during a flagship event at the 2024 World Bank Group Annual Meetings.
The strategy focuses on increasing women's use of broadband, enhancing social protection programs, and improving access to capital. These initiatives are part of one of the three pillars dedicated to boosting women's participation in the global economy.
By 2030, the World Bank Group aims to enable 300 million more women to access broadband services, support 250 million women through social protection programs, and provide capital to an additional 80 million women and women-led businesses.
Ajay Banga, President of the World Bank Group, stated: “When we increase women’s economic participation, it not only boosts the global economy but also strengthens families and communities.” He emphasized that economic empowerment builds a pathway out of poverty while extending hope and dignity.
To achieve these goals, the bank will focus on long-term changes by investing in countries with significant connectivity gaps and advocating for policy reforms. Efforts will include expanding digital social registries and leveraging digital cash transfers linked with skills training.
In addition, the bank plans to collaborate with various financial entities to improve lending practices for female entrepreneurs. This includes mobilizing resources through gender bonds and generating knowledge for regulatory reforms.
Projects already underway include efforts across African countries addressing internet coverage challenges. In Zambia, nearly four million women benefit from expanded digital cash transfer programs. In Ethiopia, a project aims to increase profits and employment for women-owned businesses over five years.
For further details on these initiatives or ongoing projects related to gender strategy implementation by The World Bank Group visit their official website or follow them on social media platforms.
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