Across the world, only 55 percent of women participate in the paid labor force—and those with paid work earn up to one-third less than men. Women own or run just 30 percent of small and medium enterprises in developing countries, and they’re largely shut out of capital markets.
But research shows that increasing women’s participation in the economy—as employees, entrepreneurs, and business leaders—would boost economic output and benefit generations to come. Women earners spend more on food and education than men do, and that introduces opportunities to lift their families and communities out of poverty.
This is just one of the reasons that IFC and the World Bank work to empower women in developing countries—not just on International Women’s Day, but on every other day of the year as well.
IFC works closely with the World Bank on several initiatives. Last year, the organizations launched the
Women Entrepreneurs Finance Initiative, or We-Fi
, a platform that aims to enable more than $1 billion in financing to improve access to capital, provide technical assistance, and invest in projects that support women and women-led SMEs.
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