The World Bank says urgent action is needed to accelerate gender equality and equal opportunity for all.
The bank said this in its brief on the 2024 International Women’s Day (IWD) on Friday.
According to the bank, we celebrate women’s achievements, yet recognise the urgent need to accelerate gender equality and equal opportunity for all.
“Too many women are still held back, and the cost of inaction is high.
“We need urgent action to accelerate gender equality. Equality of opportunity for all is a matter of fairness and justice. It is essential for development.’’
The bank said women and girls were often more vulnerable to poverty, crises, and climate change.
It said gender equality and women’s participation in decision-making in communities, businesses, workplaces, and households were key to well-being and prosperity.
“The evidence is clear: removing gender barriers unlocks economic productivity, reduces poverty, and deepens social cohesion.
“Closing the gender gap in employment can raise long-term Gross Domestic Product (GDP) per capita by nearly 20 per cent on average across countries.’’
It said the draft World Bank Group Gender Strategy raised the bank’s ambition to accelerate gender equality to end poverty on a livable planet, with a focus on innovation, financing, and collective action.
“Doing our part to speed up progress, our upcoming Gender Strategy (2024-2030) has three ambitious objectives.
“They are to end gender-based violence and elevate human capital; expand and enable economic opportunities for women and engage more women as leaders.
“Accelerating gender equality is not easy, but together we can drive change,’’ the bank said.
The IWD is celebrated annually on March 8 to highlight women’s achievements, raise awareness about discrimination, and take action to drive gender equality.
The theme for this year’s celebration as designated by the United Nations is “Invest in Women: Accelerate Progress’’.
NAN
