Identify & prioritize key areas of intervention

Identify and prioritize key areas of intervention and tools of intervention

Once the landscape has been assessed, policy makers face the challenge of identifying and prioritizing key areas and tools for intervention based on their policy objectives, especially in resource-constrained contexts. Some of the universal interventions that can be prioritized are included below. (Country contexts, however, should be considered based on the findings of the landscape assessment).

  • Enhancing women’s digital financial capabilities: Policy makers should focus on interventions that improve women’s financial knowledge and skills. This can be achieved through financial education and training programs that target women specifically. Utilizing digital channels can help reach women in remote and underserved areas, promoting financial literacy and empowering women to make informed financial decisions.
  • Improving access to digital infrastructure: Policy makers need to prioritize improving access to digital infrastructure, particularly in rural and low-income areas. This involves increasing the availability of mobile phones and other digital devices, as well as internet connectivity. Bridging the gender digital divide is crucial to ensure that women have equal access to DFS.
  • Enhancing access to financial services: Policy makers should prioritize interventions that expand women’s access to financial services. This includes promoting the development and availability of a wide range of DFS, such as mobile money and digital credit and even parametric insurance. Policy makers can also encourage the private sector to design financial products that cater to women’s specific needs, such as microfinance loans for women entrepreneurs. Authorities should also encourage regulated authorities to have gender-specific portfolio targets to streamline concentrated efforts for women’s financial inclusion. (Please refer to Action 4, “Enable Gender-Intelligent Design,” for detailed guidance).
  • Investing in an enabling policy and regulatory environment: This involves enacting regulations that protect women’s rights and interests, ensuring ease of access to ID documents, and promoting transparency and accountability among FSPs. Collaboration between the public and private sectors should be encouraged to foster innovation and address women’s financial needs effectively.

Key tip 3: Employ an intersectional11 lens to understand diverse experiences, behaviors, and opportunities, or the lack thereof, among various women segments. Intersectionality recognizes that not all women experience gender discrimination similarly and that some women may suffer overlapping and interdependent disadvantages and barriers. For instance, a strategy that factors in only gender but fails to consider the interplay of such identities as age, race, class, geography, and physical ability will not deliver equitable results for all women. In order to guarantee that policies are inclusive and equitable, an intersectional approach should be employed to identify and address the unique needs of various groups of women.

Key Tip 4: Authorities should focus on addressing actionable, feasible, and trackable goals in the medium and short term within the financial-sector space and prioritize gender-inclusive interventions. By prioritizing gender-inclusive interventions and setting clear targets, policy makers can effectively monitor progress and drive meaningful change toward women’s financial inclusion.

11. Referring to the interconnected nature of categorizations such as race, class, political identity, and gender creating over-lapping or interdependent systems of discrimination or disadvantage or privilege.