The Women’s Development Bank is expected to begin operations early next year following its successful capitalisation by the government, Finance Minister Dr Cassiel Ato Forson has announced.
Presenting the 2027 Budget Statement and Economic Policy to Parliament, Dr Forson said the move forms part of the government’s efforts to support women’s economic empowerment.
He also outlined government allocations towards meeting its financial obligations to public sector workers, retirees and other beneficiaries.
According to the Finance Minister, GH¢4.15 billion has been allocated for pensions to meet obligations to retired public servants, while GH¢1.3 billion has been set aside for gratuity payments.
An additional GH¢6 billion has been allocated to Social Security to fulfil the government’s obligations to its employees.
Dr Forson further announced an allocation of GH¢13.9 billion for the clearance of arrears, aimed at settling outstanding commitments and supporting individuals and institutions awaiting payments.
He stressed the importance of accountability in the management of public resources, insisting that public funds must be used in the interest of citizens.
“Public money belongs to the people,” he said.
By: Rainbowradioonline.com/Ghana
