As part of the Generation Equality Forum convened by UN Women and co-hosted by the governments of Mexico and France, the Bill & Melinda Gates Foundation today announced a commitment of $2.1 billion over the next five years to advance women's economic empowerment, strengthen women and girls' health and family planning, and accelerate women's leadership.
New data from Eurasia Group shows that placing women at the forefront of recovery strategies will benefit everyone:
- Globally, providing access to childcare for all mothers could deliver an additional $1.9-4.4 trillion of GDP at purchasing power parity each year. This increase would stem directly from the value created by women who would join the labor force due to better access to childcare.
- Countries in the most need of support would benefit the most. As a proportion of GDP, LIC and LMIC countries stand to gain the most from increased access to childcare.
- Instituting cash transfer programs globally could lift 55 to 100 million women out of absolute poverty – defined as living on less than $1.90 per day.
- Women living in LMICs would benefit the most, as most women taken out of poverty are predominantly living in these countries, 32 million of whom are in India.