In relation to the Women’s Development Bank (WDB), the Director of the Institute of Economic Research and Public Policy (IERPP), Dr Frank Bannor, has told the Mahama administration to stop building institutions on paper.
He urged the government to start building pathways for women to succeed.
Addressing a press conference in Accra on Wednesday, May 7, Dr Bannor, who is also a lecturer at the Ghana Institute of Management and Public Administration (GIMPA), said, “A women’s Development Bank is pointless without real access to resources and opportunities. Stop creating institutions on paper, start building pathways for women to succeed.”
The government had allocated GH¢51.3 million as seed funding for the establishment of the Women’s Development Bank to support women entrepreneurs and traders.
This was announced by the Minister for Finance, Dr Cassiel Ato Forson, while presenting the 2025 Budget to Parliament.
The initiative aims to address the persistent challenges women face in accessing capital for the growth of their businesses.
“The Women’s Development Bank will remove barriers such as collateral and equity requirements that have made it difficult for women to secure funding from traditional banks,” Dr Forson stated.
The bank is expected to provide flexible financial solutions tailored to the needs of women in small and medium enterprises, enabling them to expand their businesses and improve their livelihoods.
