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At the Annual
Meetings in Singapore World Bank Group President, Paul
Wolfowitz announced a four-year, US$ 24.5 million plan to
enhance women’s economic power in key economic sectors in the
developing world.
Earlier statements by Mr. Wolfowitz
that “women’s economic empowerment is smart economics…and a
sure path to development,” spurred the Bank to take the lead
in a plan to invest in women’s economic activity in the Bank’s
client countries.
"Although we see women front
and center in areas such as education and health, we need
more of it in those areas that support shared economic
growth—such as infrastructure, finance, private sector
development and agriculture. These are critical areas: women’s
ability to benefit from investments in roads, energy, water,
extension and financial services will profit not only women,
but also men, children and society as a whole, as economies
grow and poverty is reduced," said Mr. Wolfowitz. more
The Gender Action Plan
At-A-Glance |
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Objective: To
advance women’s economic empowerment in order to
promote shared growth and MDG3—gender equality and
women’s empowerment.
Duration and
Budget: US$24.5 million over 4 years
with half the funds coming from the World Bank and
half from donor countries including Germany and
Norway.
Rationale: Expanding
women’s economic opportunities is smart economics.
Women’s economic opportunities lag behind women’s
capabilities achieved in education and health.
This condition is inefficient, since increased
women’s labor force participation and earnings are
associated with reduced poverty and faster growth.
Women will benefit from their economic
empowerment, but so too will men, children
and society as a whole.
Focus
Areas: The Gender Action Plan
targets women’s empowerment in the economic
sectors, most importantly, infrastructure—energy,
transport, and water and sanitation; agriculture;
private sector development; and
finance.
The
Roadmap: 1) Intensify gender
mainstreaming in Bank and IFC operations and in
regional economic and sector work. 2) Mobilize
resources to implement and scale up Results-Based
Initiatives that empower women economically. 3)
Improve knowledge and statistics on women’s
economic participation and the relationship
between gender equality, growth, and poverty
reduction. 4) Undertake a targeted communications
campaign to foster partnerships on the importance
of women’s economic contributions and execute the
plan. |
A Bold
Initiative to Meet the MDGs
Empowering Women, Boosting Economics
-Bangladeshi entrepreneurs make the point of the new plan
(Article run on October 5,
2006)
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