The World Bank Group has unveiled ambitious initiatives aimed at increasing economic opportunities for women worldwide by 2030. Announced at the 2024 Annual Meetings, these initiatives include providing broadband access to 300 million more women, expanding social protection, and increasing access to capital for women entrepreneur
These targets are part of the Gender Strategy 2030, which seeks to boost women’s participation in the global economy. Other key goals include supporting 250 million women through social protection programs, providing 300 million women with essential services, and offering 80 million women and women-led businesses access to capital.
Ajay Banga, President of the World Bank Group, emphasized the broader societal impact of these initiatives, stating that economic empowerment for women strengthens families and communities while driving global economic growth.
To achieve these goals, the World Bank plans to prioritize investments in regions with connectivity and financial gaps, advocating for policy reforms to boost infrastructure and private investment in underserved areas. The use of digital cash transfers will be scaled up, linking them with skills training and business capital to empower women economically.
Additionally, the Bank will collaborate with financial institutions, fintech companies, and private equity funds to address gender biases in lending and improve access to credit. Gender bonds and other financial instruments will be mobilized to support women-led businesses.
Several projects aligned with the Gender Strategy are already underway in Africa. In Zambia, nearly four million women are benefiting from digital cash transfers, while in Ethiopia, a program supporting women-owned businesses is expected to grow profits by 30% and employment by 50% over the next five years
These initiatives are part of a larger movement aimed at ensuring women, particularly in low-income and developing countries, can fully participate in the global economy.