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.
“While women’s economic participation is one of the key drivers of development, it’s often discounted as contributing to growth,” Mr. Wolfowitz said. “The international development community has made considerable progress in enabling women to acquire more job skills. We have not, however, made the same level of progress in creating more opportunities for women to use their education and skills in the workplace.”
The Gender Action Plan will finance new measures to increase the Bank’s operations on gender equality in sectors that do not traditionally address women’s empowerment, as a means to accelerate shared growth and meet the MDGs, especially MDG3--gender equality and women’s empowerment.
Annual Meetings Briefing Center