We are currently experiencing an unprecedented global movement for women’s equality. With efforts like #MeToo, International Women’s Day and the 62nd Commission on the Status of Women the world is giving due attention to issues affecting women.
A recent study by BNY Mellon and the UN Foundation found that closing the gender gap in women’s access to financial products and services could unlock USD $330 billion in global revenue. Increasing the ability for women to access financial markets creates greater financial inclusion and empowerment.
When women are trusted as financial decision makers they are not only able to contribute to the global economy but also improve their own health and the health of their families. Studies have shown that women who experience greater financial independence make better health decisions for themselves and their children. For example, one study in Ethiopia revealed that the socioeconomic status of mothers directly affected children immunization rates in a positive way.
photo credit: World Bank