Women's Empowerment Starts at the Bank
"Up to 95% of women in developing countries are employed informally without legal protections, and many are self-employed. Female entrepreneurs also face higher interest rates, struggle with poor credit history and are less likely to take out a loan, because their entire lives exist outside the formal banking system. The IFC estimates that, collectively, women-owned businesses around the world are faced with as much as $320 billion in unmet financing needs.
"Women who control their income hold higher positions within their homes and are more likely to make informed decisions regarding their children’s health and education. Women who formally save their earnings are also up to 10 times more likely to invest in their families and communities than men are, highlighting their added social impact."
Read more about the importance of financial inclusion for women's empowerment in emerging markets via Time.