The COVID-19 pandemic has spurred financial inclusion – driving a large increase in digital payments amid the global expansion of formal financial services. This expansion created new economic opportunities, narrowing the gender gap in account ownership, and building resilience at the household level to better manage financial shocks, according to the Global Findex 2021 database.
Legal reforms to encourage and incentivize women's work strengthen communities and economies. In 86 countries, women face some form of job restriction and 95 countries do not guarantee equal pay for equal work, according to the World Bank’s Women, Business and the Law 2022 report.
The 2022 World Development Report (WDR) examines the financial and economic risks that have been created or exacerbated by the pandemic, and outlines policy measures governments should take now to avoid major financial upheaval.