Jeremy Cole
Access to Finance:
BRIDGING THE GENDER GAP
ACCESS TO FINANCE: BRIDGING THE GENDER GAP According to a recent Global Findex report from the World Bank Group, there are still more than one billion women around the world who do not have access to or use the financial system. Estimates from IFC suggest that as many as 70% of small and medium enterprises owned by women have inadequate or no access to financial services and suffer as a result.
Mobile Technology In developing economies, the figures show a gap of around 200 million people when comparing male and female cell phone owners. Lack of access to mobile technology impairs the opportunities women can access and results in a gender disparity that has a huge knock-on effect on the global economy.
Investment in Women IFC recognises that when women are empowered economically through investment, this has a profound impact on development. Investment in women will be one of the key drivers of meeting the twin goals of the World Bank Group: increasing shared prosperity and eradicating extreme poverty.
JEREMY COLE You can learn more about women in finance and the Women’s World Banking organisation by visiting the blog of Jeremy Cole, Red Rose co-founder.