The Women’s Development Bank going to be established by the next NDC administration is not going to charge interest on the loans it is going to grant women.
Professor Jane Naana Opoku-Agyemang, running to John Dramani Mahama, has said many women are not able to sustain their businesses due to the high interest rates banks charge on the loans they grant to them.
She says the bank is going to empower one million women in the country.
According to her, women suffer the most whenever there is hardship in the country. It is for that reason, she indicated, that the former President wants to introduce the Women Development Bank to cushion women in their trade which is mainly their areas of investment.
Speaking at the launch of the NDC’s 2024 campaign in Tamale, the Northern regional capital, on the theme; Change to reset Ghana, she noted that the high collateral charged by the banks break many of the women who are not able to pay, collapsing their businesses at the end.
She explained that “the bank will operate by looking at the amount of money a woman needs and we have already targeted one million women to benefit from the Bank.”
“What do they bring? All we are saying is that, it is a small amount and you came for GHC4,000 or GHC5,000, you bring us back just the 4,000 or 5,000. Don’t bring any interest because a lot of the women are forced to go for loans and you go for GHC2,000 they tell you bring GHC2,000 more.”
She noted that it becomes difficult for them to double up to pay the money at the end of the day, the reason the NDC is not going to take interest for the loans to be given to the women.
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