The Minority in Parliament has criticized what it describes as an inadequate allocation for the establishment of the Women Development Bank by the NDC government.
Finance Minister Dr. Cassiel Ato Forson, in his budget presentation on Tuesday, March 11, announced an allocation of GH¢51 million for the initiative. However, the Minority argues that the amount falls far short of the GH¢400 million capital requirement needed to set up a bank.
Addressing the media in Parliament after the presentation, immediate past Finance Minister Dr. Mohammed Amin Adam said the allocation was an attempt to take Ghanaians for granted.
“Let me also say that the Women Development Bank that they said they were going to set up, they have allocated a paltry sum of GH¢51 million. Even the capital requirement for banks to be set up is GH¢400 million.
“So what are you telling Ghanaian women, even when you have your vice president being the first woman to occupy that position? We are trying, just in the eyes of the Ghanaian people, particularly our women, who really need all the support we can provide to them,” Dr. Amin Adam said.
The Women’s Development Bank is envisioned to provide start-up capital for women-led businesses and offer low-interest loans to market women to help them expand their ventures.
It is also expected to support existing women-led enterprises with financial resources to scale up.
