World Bank Group Launches Bold Steps for Gender Strategy 2030, Targeting Economic Opportunities for Women

By 2030, the World Bank Group’s actions under Gender Strategy 2030 aim to create an inclusive global economy where women’s participation drives sustainable growth and prosperity for communities worldwide.

At the 2024 Annual Meetings, the World Bank Group introduced key initiatives under its Gender Strategy 2030 to expand economic opportunities for women by improving broadband access, social protection, and capital access. These goals align with the Strategy’s commitment to increasing women’s economic participation globally, addressing fundamental barriers to gender equality. By 2030, the Bank aims to:

Broaden Digital Access: Enable 300 million women to use broadband, enhancing their access to services, education, and jobs.

Strengthen Social Protection: Support 250 million women, especially those facing poverty, through social protection programs.

Expand Financial Access: Provide capital to 80 million women and women-led businesses, promoting entrepreneurship.

Ajay Banga, President of the World Bank Group, emphasized the transformative potential of these measures: “Increasing women’s economic participation not only strengthens economies but also uplifts communities by providing pathways out of poverty.”

Key Implementation Strategies

Broadband and Digital Inclusion: The Bank will target investments in regions with significant connectivity gaps, aiming to bridge the digital divide through infrastructure development and policy reforms encouraging private sector investment.

Social Protection Programs: Investments in digital social registries will enhance access to social protection, helping women overcome bureaucratic obstacles and facilitating direct aid distribution. Integrated digital cash transfers will connect women with essential resources, including skills training, business capital, and market access.

Access to Capital: To improve financing for women-led enterprises, the Bank will partner with financial institutions and fintechs to address gender biases in lending. Initiatives will also leverage gender bonds and development finance to mobilize resources, strengthening the economic foundation for women entrepreneurs.

Ongoing and Future Projects

In Africa, the Bank is addressing barriers such as high data costs and limited digital skills across 15 countries. In Zambia, digital cash transfer programs reach nearly four million women, complemented by skill-building and savings groups. Ethiopia’s efforts to support women-owned businesses are expected to boost profits by 30% and employment by 50% within five years.

By 2030, the World Bank Group’s actions under Gender Strategy 2030 aim to create an inclusive global economy where women’s participation drives sustainable growth and prosperity for communities worldwide.