G7 foreign and development ministers met in London from 3-5 May, where they committed their nations to a new global target for empowering women. They aim to have 40 million more girls in school and 20 million more girls reading by the age of 10 in low and lower middle-income countries by 2026. 

They are also set to collectively commit to a two-year package of support of US$15 (£10.8) billion for the 2X Challenge, a partnership between G7 Development Finance Institutions (DFIs) launched in 2018. Since then, it has committed more than US$6 billion of capital to investments that support women and girls in developing countries. 

 Foreign Secretary Dominic Raab highlighted that the G7 investment will boost “the fortunes not just of individuals, but whole communities and nations”. Charities have praised the G7 goals but have noted that the average annual UK aid spending on female education dropped from £672 million in 2016 to £400 million in 2021. Despite this, gender equality was at the heart of the G7 summit and will be a key consideration in future investments and global cooperation for a post-pandemic society and economy moving forward.