The World Bank Group says the regulatory environment for women’s economic participation has improved in the last two years.
The bank made this known in a statement issued on Wednesday.
It explained that based on the new study by the bank, 40 economies had enacted 62 reforms that would help women half the world’s population realise their potential and contribute to economic growth and development.
According to the bank, the results are uneven as women in many countries have only a fraction of the legal rights of men, holding back their economic and social development.
It said: “The Women Business and the Law 2020, measures 190 economies, are tracking how laws affect women at different stages in their working lives and focusing on those laws applicable in the main business city.
“It covers reforms in eight areas that are associated with women’s economic empowerment conducted from June 2017 to September 2019.”
According to the World Bank, if women could move more freely, work outside the home and manage assets, they are more likely to join the workforce and help strengthen their country’s economies.
It said: “We stand ready to help until every woman can move through her life without facing legal barriers to her success.”