?21bn for Women Development Fund

Government is to release an initial amount of ?21billion into the Women Development Fund, President John Agyekum Kufuor has disclosed.

Launching the fund which aims at providing a credit facility to women to enable them improve their economic ventures the President said, "if we want to develop and to modernize our country, it will only happen when our women are educated and empowered to be in the vanguard of the modernization battle."

He said government would make additional contributions annually into the fund through the budget. He therefore appealed to donor agencies to support the fund.

He implored the body responsible for the disbursement of the fund to manage it judiciously and in a businesslike manner and appealed to the beneficiaries to make it a priority to repay their loan at the proper time so that it can spread to the benefit of many more women.

President Kufuor observed that, "because the government in the economic battle took some tough decisions, life in the home has continued to be difficult even in these past eleven months, and our women are best placed to testify to this."

He however assured women that his administration has not lost sight of the vision and ultimate aim it set for the country. He commended them for their entrepreneurial spirit which he described as legendary and said when the woman is empowered economically, she holds the whole society. "In this country, it is common knowledge that when the going gets tough and many of us men give up and resort to drink, our remarkable women go on and hold the home together."

The Women's Development Fund is a government initiative through the Women and Children Affairs Ministry, aimed at supporting women in micro and small-scale economic ventures. It is also aimed at empowering women economically to improve their financial capacity to enhance their partnership with corporate Ghana.

Farmers will benefit from January to February, Fishmongers, May-July, Food Evacuators, July-August and Traders throughout the year. Agro processors and other groups will also benefit throughout the year.

The launch was attended by Ministers of State, Members of the Council of State, Queen mothers and women's organisations.

The Minister of Women and Children Affairs, Mrs. Gladys Asmah said the fund shall be operated through the network of rural and community banks as well as banks with suitable rural networks.