WB launches new strategy to boost economic opportunities for women

WAM, Philippine News Agency

FILE: The World Bank H Bulding in Washington D.C. (Photo By G0T0 – Own work, CC0)

WASHINGTON – The World Bank Group announced on Thursday the “Gender Strategy 2030” aimed at boosting economic opportunities for more women.

The targets, unveiled at a flagship event during the 2024 World Bank Group Annual Meetings, will focus on the use of broadband, social protection, and access to capital.

These efforts will contribute to one of the three pillars of the Gender Strategy, which is dedicated to expanding and enabling women’s participation in the global economy.

In a statement, the World Bank said that by 2030, it aims to enable 300 million more women to use broadband, unlocking essential services, financial services, education, and job opportunities; and support 250 million women with social protection programs, focusing especially on the poorest and most vulnerable.

It also aims to provide 80 million more women and women-led businesses with capital, addressing a critical constraint to entrepreneurship growth.

“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 Group.

“Through economic empowerment, we are building a ladder out of poverty and extending hope and dignity as far as possible.” (WAM)