World Bank Voices
Syndicate content

Global Findex

Achieving Financial Inclusion: Fintech, account usage, and innovation

H.M. Queen Máxima's picture
Also available in: العربية | Français | 中文 | Español
Soahanginirina Razafindrahanta, a teller at a Baobab bank outlet counting out money for a customer in Antananarivo, Madagascar. © Nyani Quarmyne/International Finance Corporation
A teller at a Baobab bank outlet counting out money for a customer in Antananarivo, Madagascar. ©  Nyani Quarmyne/IFC

For almost a decade, the global community and national governments have made concerted efforts to expand financial inclusion—creating a financial system that works for all and opens the doors to greater stability and equitable progress.
 
This has been a demanding challenge. At the start of our engagement on financial access back in 2013, we said that having a real target with an end date would keep us focused and give us a benchmark against which we could measure progress.

To build a brighter future, invest in women and girls

Jim Yong Kim's picture
Also available in: 中文 | العربية | Español | Français


Arne Hoel

As we mark International Women’s Day 2018, there has never been a more critical time to invest in people, especially in women and girls. 

Skills, knowledge, and know-how – collectively called human capital – have become an enormous share of global wealth, bigger than produced capital such as factories or industry, or natural resources.

But human capital wealth is not evenly distributed around the world, and it’s a larger slice of wealth as countries develop. How, then, can developing countries build their human capital and prepare for a more technologically demanding future?

The answer is they must invest much more in the building blocks of human capital – in nutrition, health, education, social protection, and jobs. And the biggest returns will come from educating and nurturing girls, empowering women, and ensuring that social safety nets increase their resilience.

According to UNESCO estimates, 130 million girls between the age of 6 and 17 are out of school, and 15 million girls of primary-school age – half of them in sub-Saharan Africa – will never enter a classroom. Women’s participation in the global labor market is nearly 27 percentage points lower than for men, and women’s labor force participation fell from 52 percent in 1990 to 49 percent in 2016.

What if we could fix this? Fostering women’s labor force participation, business ownership, and improvements in productivity could add billions to the global economy.

Closing the Gender (Data) Gap: Clinton, Kim Launch New Efforts for Better Gender Data

Donna Barne's picture

The phrase “gender gap” may be well known – but what about the gender gap for data? Today at an event at the Gallup Organization in Washington, D.C., U.S. Secretary of State Hillary Clinton and World Bank Group President Jim Yong Kim called for better data-gathering on girls and women as an essential way to boost women’s empowerment and economic growth.

“Gender equality is vital for growth and competitiveness,” said Dr. Kim at “Evidence and Impact: Closing the Gender Data Gap” in Washington, co-hosted by the State Department and the Gallup Organization.

But the lack of gender-disaggregated data hampers development efforts in many countries, Dr. Kim said.

“We need to find this missing data. We need to make women count.”