World Bank authorizes

World Bank authorizes $700 million for Mexico to increase ladies's financial chances

Reuters. Photo taken on October 12th, 2018 at the Nusa Dua, Bali, Indonesia, site of the International Monetary Fund and World Bank Annual Meeting. JOHANNES P. CHRISTOS/REUTERS

(Reuters) MEXICO CITY – On Friday, the World Bank said that it had approved a $700 million operation in Mexico to support public laws that would increase economic opportunities and social security for women.

The effort is meant to help bridge gender gaps by providing access to better jobs, increasing safety on public transit, and instituting procedures to prevent gender-based violence, a pressing issue in a country where around 20 women are killed every day on average.

The project also aims to protect domestic workers, who are predominantly women, from financial hardship by expanding their access to social security. The statistics firm in Mexico estimates that 72 percent of domestic workers in the country receive no benefits whatsoever.

The initiative will also centre on increasing access to efficient, low-emission transportation options.

The World Bank said in a statement that these measures “are expected to enhance the understanding and security of females when utilising non-motorized and public transportation,” which would help women avoid using cars and reduce the transportation sector’s total carbon footprint.

According to an Enkoll poll published earlier this year by paper El Pais, public transport is the second most common place where sexual aggression against females occurs in Mexico.

It stressed the importance of making it easier for women to commute to and from work and school as part of transport changes.

“Improving females’ access to financial opportunities is essential to improving their performance and earnings, thus reducing inequalities in Mexico,” said Mark Thomas, the bank’s director for Mexico, Colombia, and Venezuela.

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