In Saudi Arabia, women are provided the education and training to become lawyers, but they can't get licenses to practice. Chad -- and many other nations -- requires women to gain their husbands' permission to open bank accounts. These policies are intimidating, but not insurmountable. Lemmon's The Dressmaker Of Khair Khana, which was published last year, follows Afghani entrepreneur and breadwinner Kamila Sidiqi, who created her business within the confines of her home during the Taliban years.
The International Labour Organization estimates that the Asia-Pacific region is losing $42 billion to $47 billion annually because of women's limited access to employment opportunities. Increasing women entrepreneurs' access to resources and capital with the IFC is one way the World Bank can skirt around culture issues, says Lemmon. "When women make money, it changes the way men see them. It can spark generational change."
Education and health are also essential to the equation. Greater educational attainment correlates with fewer childhood marriages, which tends to lead to fewer unwanted pregnancies, abortions, and other health problems. Healthy, educated women lead to a more productive labor force.
The economic potential of investing in women seems glaringly obvious. But is it obvious to Kim? Fortune reached out to Kim for comment, but received no response. "Women are not a pet project," says Lemmon. "They are stability indicators. We need to focus on them until they are no longer a special interest group. The level playing field doesn't exist yet."
Africa's nominee, Ngozi Okonjo-Iweala, has, like Kim, an impressive resume. Her time as finance minister in Nigeria and managing director of the World Bank may give her a slight managerial edge on him, but her desire to invest in women is what sets her candidacy apart. In a 2007 TED talk on business in Africa, Okonjo-Iweala said, "I want to say that some of the best people to invest in on the continent are the women," before giving several examples of successful African female entrepreneurs. She is also an emeritus member of the board of directors at Vital Voices, a nonprofit focused on investing in women leaders globally.
Of course, there's the gentlemen's agreement that the U.S. nominee will run the World Bank and a European nominee will run the IMF. But if the World Bank is serious about its mission, it needs a president who fully grasps the economic importance of prioritizing investment in women, and is not afraid to rise to the challenge.
