The Ghana authorities has allotted GH¢51.3 million as seed fund for the institution of the Women’s Development Bank (WDB).
Mr. Cassiel Ato Forson, Minister of Finance, made this identified when he introduced the Budget Statement and Economic Policy of Government for the 2025 Financial Year in parliament on Tuesday, March 11.
“Mr. Speaker, we have also allocated GH¢51.3 million as seed fund for the establishment of the Women’s Development Bank.” Mr Forson stated.
This was in achievement of President John Dramani Mahama’s promise in the course of the presentation of the State of the Nation Address (SONA) on February 27 that preliminary funding for the institution of the Bank can be offered for within the funds assertion.
But regardless of the availability of the funds, the Finance Minister didn’t state when the Bank can be launched although President Mahama indicated in the course of the SONA that the launch would begin quickly.
Meanwhile, the aim for the institution of the Bank was succinctly laid down in President Mahama’s SONA.
In that handle, he indicated that the Bank would function a specialised monetary establishment designed to assist companies owned and led by girls by way of low-interest loans and tailor-made monetary providers provided beneath versatile phrases.
He additionally stated the initiative was geared in direction of enhancing entry to essential assets and alternatives notably for younger girls.
He additional indicated that as a social democrat, he was dedicated to eradicating all types of discrimination in society, foster equity and domesticate an inclusive atmosphere the place individuals engaged totally and equally in social, financial, and political life therefore the institution of the Bank.
Additionally, he stated the institution of the Bank was a part of his administration’s agenda of empowering girls.
Source: GNA