World Bank unveils gender strategy 2030, to empower women with broadband penetration

The World Bank Group said it aims to enable 300 million more women to use broadband and unlock essential services, financial services, education, and job opportunities by 2030.

Dubbed Gender Strategy 2030, the targets, unveiled at a flagship event during the 2024 World Bank Group Annual Meetings, will focus on the use of broadband, social protection, and access to capital.

These efforts, according to the bank, will contribute to one of the three pillars of the gender strategy, which is dedicated to expanding and enabling women’s participation in the global economy.

“When we increase women’s economic participation, it not only boosts the global economy but also strengthens families and communities. Through economic empowerment we are building a ladder out of poverty and extending hope and dignity as far as possible,” the President of the World Bank Group, Ajay Banga, said.

“Support 250 million women with social protection programs, focusing especially on the poorest and most vulnerable and provide 80 million more women and women-led businesses with capital, addressing a critical constraint to entrepreneurship growth.”

To achieve these targets, the bank said it will focus on key efforts that will drive long-term, sustainable change.

In the area of broadband access, the bank will prioritise investments in countries with the largest connectivity and financial gaps, emphasising gender equality in digital inclusion. It will also advocate for policy reforms to facilitate private investment and build infrastructure in underserved areas.

The World Bank explained that it will expand social protection programs by investing in digital social registries, which are essential for improving efficiency, reducing bureaucratic barriers, and ensuring direct assistance to women.

It said it will also leverage digital cash transfers, linking them with skills training, business capital, coaching, and market access to equip women with the tools for sustained economic opportunities beyond temporary financial support.

Additionally, to bolster access to capital for women and women-led businesses, the bank added that it will collaborate with regulators, financial institutions, fintech companies, incubators, accelerators, and private equity funds to prevent gender biases in lending practices, strengthen female entrepreneurs’ capacity, and improve access to credit and equity.

By working closely with development finance institutions and investors, the bank will also mobilise resources through gender bonds and other financial instruments, while generating knowledge to make the business case for necessary regulatory reforms.

“There are many projects already underway, and efforts can be further scaled up to help meet these targets. A project across 15 African countries is tackling challenges such as limited internet coverage, low usage due to the high cost of data and devices, and limited digital skills,” it said.