Today, 42% of women worldwide do not have access to the economic system, placing themselves outside the formal financial system, without the possibility of acquiring a bank account or other basic instruments to manage their money with the support of a commercial institution.
In all countries, absolutely all people need access to financial services, so that they can invest in their businesses and constantly improve their quality of life, focusing on their family and projects.
The strengthening of women in the finances is of vital importance to perceive a clear evolution in the economy and to impel its growth, the lack of these services turns in a very difficult situation the life of the woman, besides stopping the development of many countries, since these represent a considerable population and they are part of the society.
The main reason for which, the development of a country is slowed down due to the lack of financial services in the woman, affects in the fact that, the woman invests her money mainly in the well-being of her family, this implies a considerable investment in health, education and well-being for her family, this represents a direct entrance of money for the state and the economy of the country.
Even though many women entrepreneurs own small and large businesses in several developing countries, more than 70% do not have stable financial services to meet their needs or manage their money with concrete support.
The World Bank and its initiatives
The directors of the World Bank have approved an important initiative that consists of promoting financing for women entrepreneurs around the world, so that they can face the present obstacles to succeed in their enterprise.
The goal of this initiative is to allocate a fund of more than $1 billion to finance women entrepreneurs, using a variety of efforts around the world in both the public and private sectors, in the form of policy solutions and concessional finance.
Women in financial institutions
In addition to perceiving the lack of financial services in women, there is also a significant lack of their presence in financial institutions. It is known that, at the global level, the presence of women in these institutions is much lower than that of men, so this factor may cause certain consequences or impact, not only on the institutional labour market, but also on the lack of access of women to the financial world in various aspects.
Women’s lack of participation in the financial system can also have a significant impact on the economy, reflecting women’s preferences and needs at a much lower level in the general market.
This can contribute to women having less access to different products and services, as well as less success in business development because they do not get strong support from formal financial providers.
Women in Business
It is proven that companies that have a diverse team, not only in its low structure but in all its levels, tends to have a much higher performance in all senses than the standard, the gender diversity in the labor field is key for the development and evolution of the labor dynamics, that is for sure.
For this reason, little by little from the most developed countries, to the less developed ones, have opened the way to give women the opportunity to perform formally in the institutions, however the amount is still small, taking into account even the biggest economies.