The World Bank wants to give high-speed Internet access to 300 million women by 2030 as part of its Gender Strategy 2030, focusing on closing digital and financial gaps for women, particularly in underserved regions such as Africa.
Announced at the 2024 World Bank Annual Meetings, the initiative seeks to drive women’s economic participation and boost global growth by improving digital inclusion, providing access to capital, and expanding social protection programmes.
World Bank President Ajay Banga highlighted the significance of these efforts, noting that increasing women’s economic participation strengthens economies, families, and communities.
In addition to broadband access, the Bank aims to provide 300 million women with essential services, financial tools, education, and employment opportunities, while extending social protection to 250 million women, particularly the most vulnerable.
The strategy also includes supporting 80 million women entrepreneurs by improving access to capital and addressing gender biases in lending practices.
To achieve this, the World Bank plans to collaborate with financial institutions, fintech companies, and private equity funds to reduce barriers to credit access for women-led businesses.
Investments will prioritise countries with significant gender disparities, and the Bank will advocate for policy reforms to encourage private sector investment in broadband infrastructure.
Additionally, digital social registries will be developed to streamline assistance to women, while digital cash transfers will be expanded, linking them with skills training, capital, and market access. These efforts are designed to create sustained economic empowerment for women.
Gender Strategy 2030
The World Bank has already begun implementing initiatives that align with its Gender Strategy 2030 across 15 African countries
In Zambia, for example, nearly four million women receive digital cash transfers, skill training, and business capital.
In Ethiopia, a project to support women-led businesses is expected to increase profits by 30% and employment by 50% in the next five years.
Read Also: Moroccan Startup Colis.ma Raises $300,000 to Expand in Africa
These projects are part of the World Bank’s mission to empower women, particularly in low-income and developing countries, by providing them with the tools and opportunities necessary to participate in the global economy.
The World Bank’s Gender Strategy 2030 has the potential to advance gender equality and drive global economic growth by bridging the digital divide and providing financial support.
Leave a comment and follow us on social media for more tips:
- Facebook: Today Africa
- Instagram: Today Africa
- Twitter: Today Africa
- LinkedIn: Today Africa
- YouTube: Today Africa Studio
