The World Bank announced its new Gender Strategy 2024-2030 on Thursday, a comprehensive plan aimed at increasing economic opportunities for women worldwide. Launched during the International Monetary Fund (IMF) and World Bank annual meetings in Washington, the strategy focuses on empowering women through enhanced access to social protection, broadband internet, and capital. The initiative seeks to address long-standing barriers to women’s participation in the global economy, with a vision to improve the livelihoods of millions of women by 2030.
The World Bank’s strategy sets ambitious goals, including enabling 300 million more women to access broadband internet, a move designed to unlock essential services such as financial tools, education, and employment opportunities. Access to broadband is seen as a key factor in bridging the digital divide and opening new avenues for women in both developed and developing economies.
In addition, the strategy aims to support 250 million women through social protection programs, focusing particularly on the poorest and most vulnerable populations. These programs will offer essential support, ensuring that women have the resources they need to escape poverty and contribute to their families and communities.
One of the central pillars of the strategy is addressing the lack of access to capital, which often stifles women’s entrepreneurial ambitions. By providing 80 million women and women-led businesses with access to financial resources, the World Bank hopes to remove significant barriers to entrepreneurship and foster economic growth. This effort is expected to promote the expansion of women-led enterprises and encourage innovation in sectors traditionally dominated by men.
World Bank President Ajay Banga emphasized the broader impact of increasing women’s economic participation, highlighting its potential to uplift entire communities. “When we increase women’s economic participation, it not only boosts the global economy, but also strengthens families and communities,” Banga said in a statement. “Through economic empowerment, we are building a ladder out of poverty and extending hope and dignity as far as possible.”
The Gender Strategy 2024-2030 is part of the World Bank’s ongoing efforts to promote gender equality and reduce poverty through sustainable development. With a strong focus on social protection, digital inclusion, and entrepreneurial support, the strategy aims to create lasting economic change for women across the globe. As the strategy unfolds, the World Bank hopes to foster a more inclusive global economy, where women have the tools and resources needed to thrive.
