World Bank Increases Gender Support and Lending in Developing Countries

The World Bank has increased support and lending for gender-related issues in developing countries in order to improve women’s social and economic conditions, according to Implementing the Bank’s Gender Mainstreaming Strategy: FY08 Annual Monitoring Report.

The report says that gender issues informed the design of 45 percent of all lending operations in fiscal year (FY) 2008 –from July 2007 to June 2008-- compared to 35 percent in fiscal year FY06. Gender coverage increased for the economic sectors –such as agriculture and rural development, economic policy, private sector development and infrastructure—from 25 percent to 34 percent, while coverage in social and related sectors jumped from 59 to 79 percent of all lending operations. [1]

“Women in developing countries are increasingly benefiting from World Bank support but we have to do much more to increase their economic well-being, especially at a time of crisis,” said World Bank Managing Director Ngozi Okonjo-Iweala. “In the long run, ensuring women’s access to earnings will speed up both the economic recovery and the fight against poverty.”

Although gender coverage is still higher in the social sectors, the Annual Monitoring Report shows faster growth in the economic sectors (36.1 percent compared to 28.6 percent between FY06 and FY08) following the institution’s launch of a four-year US$60 million Gender Action Plan, which began implementation in January 2007 precisely to improve gender coverage in the economic arena.

“In many countries, women have caught up or even overtaken men in educational attainment, and yet women continue to trail men consistently in jobs, access to credit, and the economic sphere in general,” said Otaviano Canuto, World Bank Vice-President for Poverty Reduction and Economic Management. “This is inefficient. We will continue to make every effort to help women improve and increase their role in the economy because it is good for women and for development. It is smart economics.”

In lending operations, South Asia kept a high level of attention to gender issues in FY08 and Latin America improved the most from FY06, while all the Country Assistance Strategies (CAS) in Africa and East Asia and the Pacific incorporated gender issues.