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:
Law and Regulation
We live in a world where
Every November 25, the International Day for the Elimination of Violence against Women, we are reminded that gender-based violence continues to be a global epidemic with dire consequences for women, their families and entire communities. It leads to negative mental and physical health consequences for women and limits their decision-making ability and mobility, thereby reducing productivity and earnings. Beyond the individual harm, it also has substantial economic costs. Global estimates suggest the cost of gender-based violence to be as high as 3.7 percent of GDP – or $1.5 trillion a year.
Around the world, The Food and Agriculture Organization of the United Nations argues that improving women’s access to productive resources (such as land) could increase agricultural output by as much as 2.5% to 4%. At the same time, women would produce 20-30% more food, and their families would enjoy better health, nutrition, and education.
But Today, only 30% of land rights are registered or recorded worldwide, and in many developing countries.
- women's land rights
- Land 2030
- food security
- rural women
- Sustainable Communities
- land rights
- Land Tenure
- Global Goals
- International Day of Rural Women
- sustainable development goals
- Law and Regulation
- Social Development
- Agriculture and Rural Development
- Latin America & Caribbean
Have you ever seen a rhino walking into the African sunset? It’s an unbelievable sight. Now let me ask you this- have you ever seen a carcass of a dead adult rhino with its horn sawn off and the body lying on the dusty ground? It is an unforgettable and tragic sight.
The world’s wildlife is under a grave threat of either being slaughtered or captured alive. The wildlife commodities -- whether an ivory tusk, a rhino horn, live birds or reptiles -- are illegally moved through well-organized transnational supply chains and sold in international markets where consumers are willing to pay a high price.
May 17 is the International Day Against Homophobia, Transphobia and Biphobia, or IDAHOT.
Why should we care about IDAHOT? Because sexual orientation and gender identity, or SOGI, matters.
Despite some legal and social progress in the past two decades, LGBTI people continue to face widespread discrimination and violence in many countries. Sometimes, being LGBTI is even a matter of life and death. They may be your friends, your family, your classmates, or your coworkers.
Yet when she got home, the elation dissipated with the dust. Her father had his own news to deliver. She would not be going to secondary school, as she had worked for, as she had wanted. Instead, she would be getting married, an economic necessity for Rubi’s family as well as a common practice in Bangladesh. Early marriage is on the decline in Bangladesh, but high rates continue to prevail; 59 percent of all girls are married by age 18 and 16 percent by age 15.
The Advocates: When little, Rubi had been denied access to primary school because her parents hadn’t registered her at birth. Rubi’s mother got her daughter a birth certificate, and with that, she was admitted to school, a place where she thrived.
At 15, smart, ambitious Rubi did not want to get married. So she found advocates in her teachers and Plan International, a child rights organization. With their support, Rubi went to the Union Council Office where the chairman informed her parents about the legal ramifications of child marriage. She was not old enough and her birth certificate proved it. She was underage. So Rubi went back to school and on to graduate at 18.
Child Marriage: Rubi’s story highlights the global problem of . Child marriage remains pervasive: every year, 15 million girls are married before 18.
- #16Days of Activism Against Gender-Based Violence
- Child Marriage
- identification for development
- Social Development
- Law and Regulation
- Information and Communication Technologies
- South Asia
- Syrian Arab Republic
- Sustainable Communities
Today, the region still sees an average rate of 24 homicides per 100,000 inhabitants—more than twice the World Health Organization (WHO)’s threshold for endemic violence.
In Latin America, the homicide rate for males aged 15-24 reaches 92 per 100,000, almost four times the regional average. Young people aged 25-29 years, predominately males, are also the main perpetrators of crime and violence, according to an upcoming World Bank report.
Endemic violence also translates into less productivity, poorer health outcomes and high security costs. The cumulative cost of violence is staggering—up to 10% of GDP in some countries—with negative long-term consequences on human, social, economic, and sustainable development.
The good news is that violence can be prevented. For example, cities like Medellin in Colombia and Diadema in Brazil have dramatically reduced homicide rate over the last few decades, thanks to tailored solutions backed by robust data analysis and a “whole-of-society” approach.
In this video, we will discuss why violence is an important development issue, how countries and cities can effectively fight violence and crime, and what the World Bank and its partners are doing to ensure security and opportunity for all—especially youth and the urban poor.
- Feature story: Urban Violence: A Challenge of Epidemic Proportions
- Feature story: Violence in Latin America: An epidemic worse than Ebola or AIDS?
- Blog post: Obstacles to development: what data are available on fragility, conflict and violence?
Stigmatization and discrimination often have a direct impact on the lives of LGBTI people, but also affect economies and societies at large: when entire groups are left behind - including due to sexual orientation or gender identity - everyone loses out on their skills and productivity.
On this International Day Against Homophobia and Transphobia (IDAHOT), Ede Ijjasz and Maninder Gill detail some of the actions taken by the World Bank to make sure LGBTI people can be fully integrated into global development.
My father is a long-distance trucker based in Belarus. As a young girl, I spent long hours on the road with him. I loved traveling to neighboring and faraway cities and—even though I could barely reach the pedals at the time—dreamed of becoming a truck driver myself one day. Life ended up taking me on another path, but it wasn’t until I was older that I learned that the option of being a truck driver was never open to me to begin with.
Because my native country prohibits women from being truck drivers, one of the 182 professions out of bounds for women.
Yet, as important as land ownership may be, 70% of the world's population still lacks access to proper land titling or demarcation. This carries a host of negative consequences: when people have to live with the constant threat of potential eviction, they are more likely to remain or become poor, and cannot invest in their land with confidence.
Conversely, stronger land rights can be a powerful tool for economic development and poverty reduction. That is why the World Bank is working with client countries to build legal and institutional frameworks that effectively protect land tenure - including for vulnerable groups such as women and indigenous peoples.
In this video, World Bank Practice Manager Jorge Muñoz describes in greater depth how the institution is bolstering land tenure around the world as part of its mission to eliminate poverty and boost shared prosperity.