By Kimberly Chin

PayPal Holdings Inc. said it will invest more than $100 million to help advance financial inclusion and economic empowerment for women and girls over the next five years.

The online payments provider will pour $100 million of its own capital into women-led or women-focused investment funds and depository institutions and other initiatives that support gender equality outcomes, it said.

PayPal will also invest $7 million in partnerships that will help women entrepreneurs gain more access to microloans and give $1 million toward civil society organizations that support gender equality.

Additionally, the company said it will annually assess its internal policies and benefits related to pay equity, paid leave, caregiver support and its practices to prevent sexual harassment at the workplace.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

06-30-21 1510ET