In a groundbreaking move to foster gender equality, the World Bank has unveiled its Gender Strategy for 2024-2030, which aims to increase economic opportunities for women on a global scale. Announced at the recent International Monetary Fund (IMF) and World Bank annual meetings in Washington, D.C., the strategy sets ambitious targets to elevate women’s participation in the economy through expanded social protections, improved broadband access, and enhanced capital investment.
The strategy’s core focus is to enable 300 million women to gain access to broadband internet by 2030. Recognizing that broadband connectivity is vital for accessing financial services, education, and employment, the World Bank hopes this effort will serve as a gateway for women to engage in the digital economy and improve their livelihoods.
In addition to broadband, the plan includes significant social protection initiatives aimed at reducing poverty and vulnerability among women. By 2030, the World Bank intends to support 250 million women with social protection programs, tailored to alleviate the challenges faced by those in impoverished and vulnerable communities.
Further, the strategy aims to tackle long-standing barriers to women’s entrepreneurship by providing capital to 80 million women and women-led businesses. This capital infusion is designed to unlock economic potential in regions where women face financial constraints that limit their ability to start and grow businesses.
World Bank President Ajay Banga underscored the transformative potential of the strategy. “When we increase women’s economic participation, it not only boosts the global economy but also strengthens families and communities,” Banga stated. “Through economic empowerment, we are building a ladder out of poverty and extending hope and dignity as far as possible.”
The World Bank’s Gender Strategy represents a substantial commitment to closing gender gaps worldwide and holds the potential to bring lasting change, particularly for women in underserved regions.