NEW YORK: The World Bank in its 10th annual Women, Business and the Law report on Monday said that closing gender gap could raise global gross domestic product (GDP) by more than 20%.
The report said that women on average have just 64% of the legal protections that men and no country in the world not even the rich provides true equal opportunity.
It said ending discriminatory laws and practices that stop women from working or starting businesses could raise global gross domestic product which would double the rate of global growth over the next decade.
The bank in the report assessed for how 190 nations around the world are implementing existing laws to protect women.
World Bank chief economist Indermit Gill said women have the power to enhance the global economy.
The report added hurdles that women face in entering the international workforce included barriers to start businesses, persistent pay issues and bans on working at night.
The report found that hardly women have legal protections against domestic violence, child marriage, sexual harassment, and femicide in the 190 states across the world.
Women also spend an average of 2.4 more hours a day on unpaid care work like caring for children, with only 78 nations have quality standards governing childcare services.
The report said on paper, women have roughly two-thirds the rights of men.
