Data from the World Bank (WB) show that bank account ownership among women doubled from 23% in 2011 to 46% in 2021, surpassing men at 43%.

According to WB, 35% of women are using digital payments, compared to 34% of men.

However, women still face barriers in accessing credit, with only 12% borrowing from financial institutions compared to 15% of men.

WB notes that many women in rural areas have limited access to financial resources, which impacts their economic opportunities and independence.

Several WB initiatives, such as the remittances and payments program, the financial resilience and development program and the Western Balkans Payment Modernization Project, are making a real impact in addressing financial gaps.

These programs are helping to reduce remittance costs by up to 100 million dollars annually for migrants, easing the financial burden on families.

They are saving businesses up to 17 times in transaction costs and unlocking up to 1 billion dollars in financing for small and medium-sized enterprises, benefiting both men and women.

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