I opened my first bank account as a new student at the London School of Economics in 1987. This seemingly small act meant that I could manage my own finances, spend my own money, and make my own financial decisions. It meant freedom to decide for myself.
There are some bright spots. In Bolivia, Cambodia, the Russian Federation, and South Africa, for example, account ownership is equal for men and women. And in Argentina, Indonesia, and the Philippines, the gap we see at the global level is reversed—women have more accounts than men.
But there are also some very troubling, and persistent gaps. The same countries that had gender gaps in 2011 generally have them today. In Bangladesh, Pakistan, and Turkey, the gap in account ownership between men and women is almost 30 percentage points. Morocco, Mozambique, Peru, Rwanda, and Zambia also have double-digit differences between men and women.
Countries have to do better in unraveling the complicated web that women face when they try to do something that for a man, is quite simple. How can we level it up? Let me suggest three things as a start:
While some studies predict automation to eliminate jobs at a dizzying rate, disruptive technologies can also create new lines of work. Our working draft of the forthcoming 2019 World Development Report, The Changing Nature of Work, notes that in the past century robots have created more jobs than they have displaced. The capacity of technology to exponentially change how we live, work, and organize leaves us at the World Bank Group constantly asking: How can we adapt the skills and knowledge of today to match the jobs of tomorrow?
One answer is to harness the data revolution to support new pathways to development. Some 2.5 quintillion bytes of data are generated every day from cell phones, sensors, online platforms, and other sources. When data is used to help individuals adapt to the technology-led economy, it can make a huge contribution toward ending extreme poverty and inequality. Technology companies, however well intended, cannot do this alone.
With more than 1.1 billion individuals without official proof of identity, a myriad of technologies is advancing at a faster speed than ever before and becoming more affordable, making it possible for nations to leapfrog paper based approaches of the past. Yet, it is becoming a challenge to understand and keep up with the various technologies and advancements that are especially relevant for digital identification systems. Identification for Development (ID4D) launches a new Technology Landscape report providing an overview of current and emerging technology trends in digital identity.
For three days this month, the West African nation of Senegal was in the spotlight of global efforts to combat climate change and improve education in a rapidly changing world.
French President Emmanuel Macron and Senegal’s President Macky Sall co-hosted a conference in Dakar to replenish the Global Partnership for Education (GPE) – a funding platform to help low-income countries increase the number of children who are both in school and learning.
African leaders and partners stepped up to announce their commitment to provide an education that prepares children to compete in the economy of the future and advances socio-economic progress.
Heads of state from across the continent described their challenges—including terrorism, insecurity, the influx of refugee children who need an education, the strain on national budgets, and the cultural bias against educating girls.
Technological advances have made it possible to dramatically increase the accountability and transparency of public financing to reduce corruption. For example, if a government decides to construct a road, it can now track how each dollar is being spent, identify all the users of the funds, and ensure that only those authorized to spend money do so on originally intended expenses within the permitted time. Fraud and corruption investigations that now take on average 15 months could be performed at the touch of a button and at a fraction of the cost. More importantly, this type of financial tracking would be a deterrent for bribes in the public sector, which amount to between $1.5 trillion and $2 trillion annually, roughly 2 percent of global GDP. This in turn would increase development impact. All it would take is adopting a cryptocurrency and using blockchain software.