The World Bank has unveiled its first step to implementing Gender Strategy 2030, which aims to boost economic opportunities for more women through a set of action and concrete goals.
The goals and targets, which will focus on broadband use, social protection, and access to capital, were announced at the flagship event during the 2024 International Monetary Fund (IMF) and World Bank Group Annual Meetings.
“When we increase women’s economic participation, it not only boosts the global economy but also strengthens families and communities,” said Ajay Banga, president of the World Bank. “Through economic empowerment, we are building a ladder out of poverty and extending hope and dignity as far as possible.”
To achieve its goals, the Bank is committed to driving meaningful, long-lasting change. When it comes to broadband access, the focus will be on investing in countries that face significant connectivity and financial challenges, with a particular emphasis on promoting gender equality in digital inclusion. The Bank aims to advocate for policy reforms that will encourage private investment and develop infrastructure in areas that are currently underserved.
Numerous ongoing projects can be scaled up to help meet these targets. For instance, a project spanning 15 African countries is addressing issues like limited internet coverage, high costs of data and devices, and inadequate digital skills. In Zambia, the World Bank is assisting the government in expanding digital cash transfer programs to nearly four million women. This initiative also supports around 60,000 women through skills training, business funding, mentorship, and the formation of savings groups. Meanwhile, in Ethiopia, a project aimed at women-owned businesses is set to increase their profits by 30% and create a 50% rise in employment over the next five years.
