PayPal has disclosed Wednesday that it has saved a $100 million commitment to advance financial inclusion and economic empowerment for women and girls around the globe over the next five years. The firm has disclosed this great initiative during the Generation Equality Forum (GEF). GEF is a global gathering for gender equality, organized by UN Women and co-presented by the governments of Mexico and France, in collaboration with civil society.
PayPal believed that for the establishment of a wealthy and flexible economy improvement of the financial health of women is necessary. Women make up the vast majority of the world’s unbanked and disadvantaged adults, and the economic and social effects of the COVID-19 pandemic have only worsened these discrepancies.
Furthermore, the pledge comprises various external and internal investments over the next five years to back financial inclusion and economic empowerment of women and girls. PayPal revealed that it will deposit $100 million of its capital into investment funds and depository institutions that are managed by women or focused on helping women, as well as other attempts that can create greater financial health or economic empowerment of women, among other gender equality outcomes.
Moreover, PayPal will carry out a yearly evaluation to guarantee that the policies and benefits of the firm regarding pay equity, paid leave, caregiver support, and workplace sexual harassment prevention meet or exceed best practices, starting in the U.S. with the commitment to increase the evaluation internationally.