Job loss rates in women across the globe are twice as high compared to men.
Rosy Khanna, a regional director of International Finance Corp (IFC), a sister organization of the World Bank, said in an interview on ANC that women suffered 54 percent of job losses globally.
This has pushed over 50 million women, according to Khanna, into poverty during the pandemic.
Most of these women who were affected work in services, tourism, and retail sectors — which are the hardest hit by the lockdown restrictions.
Women account for 39 percent of the global workforce.
Khanna emphasized that the focus for recovery should be on women.
Khanna projected that MSMEs will also continue to suffer depending on the recovery rate of their places. This is why, she added, they are putting more focus on them to help them out.
IFC recently partnered with CARD MRI, who issued up to $15-million (around P750 million) accessible loans for 60,000 micro, small and medium enterprises (MSMEs) in the Philippines.
Of the number, 44,000 of them are owned or led by women. Khanna said this is part of the $2 billion funding globally. (ES)