Achieving 50% Labor Force Participation of Women Boosts 1% Indian GDP

By: WE Staff | Monday, 26 February 2024

According to Anna Bjerde, Managing Director (Operations) at the World Bank, the firm is prioritizing housing solutions for women by emphasizing the importance of creating housing options specifically for women for their empowerment and equal opportunities.

World Bank has led a number of significant initiatives including the establishment of 'Thozi', a hostel for working women. This is a partnership effort by the World Bank, the Tamil Nadu government, and the private sector. The hostel is situated in the Tambaram area where working women can reside in a safe and supportive environment.

MD Anna Bjerde mentioned the significance of the ultimate goal is to empower women and upgrade the playing field. In order to raise the number of women in the labor force, the World Bank has carried out developmental initiatives the estimated goal is to achieve 50 per cent labor force participation of women which would help to increase the GDP growth of India by at least 1 per cent. However, to improve the female workforce in urban areas, they plan to create other successful initiatives that are establishing more working women's hostels in the State.

She said India's model of public-private partnerships for working women's hostels can inspire other countries facing similar challenges by leveraging the strengths of both sectors for innovation and efficiency. This model can be effectively used in African, South Asian, and South East Asian countries.