The World Bank has disclosed that the regulatory environment for women’s economic participation has improved over the past two years.

It added that already, 40 economies have enacted 62 reforms that will help women – half the world’s population – realise their potential and contribute to economic growth and development.

According to the new World Bank study, “still, the results are uneven – women in many countries have only a fraction of the legal rights of men, holding back their economic and social development”.

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The study, ‘Women Business and the Law 2020’, measures 190 economies, 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. The World Bank Group President, David Malpass said “Legal rights for women are both the right thing to do and good from an economic perspective.  “When women can 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.”