Increasing women’s economic empowerment is an important motivation for expanding access to digital financial services for women.
For government-to-person payments to truly benefit the most vulnerable during COVID-19, they must tackle the inequalities that women are facing due to the pandemic.
Given pre-existing gender gaps, there are concerns about exclusion for many of the social assistance programs being rolled out around the world in response to COVID-19. Social protection systems that ignore gender inequality will likely fail to mitigate the risks of the pandemic for women, and, at worst, could further exacerbate inequalities. Therefore, inclusive economic policies that empower women and create resilience now and for the future must be designed to ensure women contribute to the global recovery. This paper offers guidance and considerations for policymakers to support women’s inclusion and empowerment.
This Briefing provides guidance to policymakers to work with financial sector regulators and implement COVID-19 social assistance payments that facilitate rapid, remote account opening in compliance with anti-money laundering and counter-financing of terrorism (AML/CFT) rules.
Around the world, women are being hit hard by the economic impacts of COVID-19 (coronavirus). As the fallout from the pandemic deepens, so do the short and longer term effects on women’s empowerment. The insecurity and lack of social protection that characterize informal, temporary, unpaid labor put millions of women and their families at extreme risk: in many developing countries, most women in paid work were working informally – around 95 percent in Asia and 89 percent in Sub-Saharan Africa.