Closing the gender gap in financial inclusion would promote economic growth and resilience, reduce gender inequalities, enable more autonomy for women, and contribute positively to sustainable development.
Collecting gender data is the first step toward expanding women’s access to and use of financial services. Two types of gender data are necessary to close this gap: demand-side data (data from clients) and supply-side data (data from financial service providers). This data can show whether women can access financial services; challenges to access or usage; if they are using existing financial products and services; which products and services they are most frequently using; and, the potential business opportunity for targeting women as clients.
With our partners, we work to improve the production and use of sex-disaggregated data on access to and use of financial services to close the gender gap in financial inclusion. Our WFID partnership includes the Alliance for Financial Inclusion (AFI), Global Banking Alliance for Women (GBA), Inter-American Development Bank (IDB), IDB Invest, International Finance Corporation (IFC), International Monetary Fund (IMF), and World Bank Group (WBG).
WFID’s current efforts include global advocacy and awareness-raising about the important role for gender data in efforts to increase financial inclusion; showcasing best practices in gender data collection and use and country experiences through capacity-building, knowledge products and case studies; and working to harmonize priority supply-side data definitions and indicators on women’s financial inclusion.