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.
That financial freedom is still elusive to 980 million women around the world. And, worryingly, this does not seem to be improving. Our Global Findex database shows that
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.
We need to make sure that everyone has the opportunity to work, earn, and participate in his or her economy. This is at the core of our work at the World Bank Group, especially as we look at the skills people will need for the jobs of the future.
But there are some reasons that keep women specifically from opening accounts.
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:
According to the UN, women in conflict-ridden countries are disproportionately affected. They are actively targeted as a tactic of war to humiliate, terrorize, punish, or forcibly displace them. In fact, women and girls are disproportionately exposed to sexual violence during conflict. And, as more men die, more women and families are left destitute. The World Bank Group is committed to doing more to prevent this cycle of violence against women, as set out in this IEG report.
UNHCR story, the business is small, but the women are earning money to feed their children and take care of their families. These women are vital role models in their communities and give others hope to rebuild their lives.Take the example of Chorty a war widow who successfully banded together with other war refugees from South Sudan to open a hair salon in the Democratic Republic of Congo (DRC). According to the
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For too long women have suffered from this type of violence that has negative consequences on their voice and agency as well as their capacity to fully participate in the economy and society. But sexual harassment also has negative effects on women’s economic opportunities. For example, if no recourse is available to protect them, instead of reporting the problem, women facing sexual harassment in the workplace often say that they have no other choice but to quit. This may mean starting over, missing out on pay raises, career growth opportunities, and earning potential.
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?
This is true even in Africa, where the most studies have been published, due to shortcomings in both the quality and quantity of research on these questions.
As we mark the International Day of Zero Tolerance for Female Genital Mutilation, on Feb. 6, we are supporting #EndFGM, a survivor-led movement gaining momentum and power around the world.
; girls who experience it are more likely to be forced into child marriage, more likely to be poor and stay poor, and less likely to be educated. Beyond the data and the statistics, researchers have shown that FGM deprives women of sexual health and psychophysical well-being.
At the recent Africa Agriculture Extension week in Durban, there was a common refrain: "Demand for food in Africa is growing and expected to double by 2050." This is why we see continued growth and employment opportunities in the agricultural value chain and why agriculture extension—or training-- is more important than ever.
So what exactly is agriculture extension? Extension workers are trainers, advisors, project managers, community developers and policy advocators. They also conduct administrative support for local governments and help farmers make decisions and share knowledge. Agriculture extension, which services smallholder farmers throughout the value chain, is crucial in achieving food, nutrition and income security.
Growing up in Pakistan, I often wondered why boys were expected to become doctors or engineers while girls, including me, were encouraged to pursue teaching or home economics. So, when my cousin Sana became the first woman in my family to start a career in engineering, she also became my idol. But a few months later, my excitement soured when Sana quit her job halfway through her first pregnancy. Sana’s story, however, is not unique. Traditional gender roles and lack of access to formal childcare often play a critical role in many women’s decisions to forgo STEM careers.
Stories of sexting, sex tapes, online dating gone wrong and cyberbullying are all over social media and the news. However, these stories only begin to scratch the surface of online – or technology-facilitated – gender-based violence (GBV). With a wide range of online predatory behaviors essentially falling under one label, how do we define it? How can we begin to tackle the problem if we can’t grasp the full breadth of the problem?
The World Bank Group and the Sexual Violence Research Initiative (SVRI) has engaged the International Center for Research on Women (ICRW) to develop a way to measure technology-facilitated GBV on a global scale. To do this, our team is in the beginning stages of developing a conceptual framework. The reasoning behind this initiative is that, in order to tackle a problem like online violence, we must first get to the root of the problem by understanding the many ways online violence manifests itself. As researchers, defining the problem provides us with the insights we need to determine how to approach and measure the problem. And if we can measure it, we can start testing solutions.