Finance Minister Dr Cassiel Ato Forson has announced that the Women's Development Bank is expected to commence full operations before the end of 2026, following significant progress in its establishment and the fulfilment of key regulatory requirements.

Presenting the 2026 Mid-Year Fiscal Policy Review in Parliament on Thursday, July 23, Dr Forson said the government had taken major steps towards operationalising the bank, which is expected to expand access to finance for women across the country.

According to him, the bank was formally incorporated as WDB GH LTD on January 26, 2026, marking a key milestone in its establishment.

"Government has made progress towards the establishment of the Women's Development Bank. On 26th January 2026, the bank was formally incorporated as WDB GH LTD," he told Parliament.

The Finance Minister said the government has since applied to the Bank of Ghana for the requisite banking licence to enable the institution to begin operations.

"Following its incorporation, government applied to the Bank of Ghana for the requisite banking licence to enable the bank commence operations," he said.

Dr Forson further disclosed that the Ministry of Finance has deposited GH¢400 million with the Bank of Ghana as the bank's initial capital to satisfy the capital requirement for licensing.

"In fulfilment of the capital requirement for licensing, the Ministry of Finance has deposited an amount of GH¢400 million into an account with the Bank of Ghana as the initial capital for the Women's Development Bank," he stated.

He expressed confidence that the institution would become fully operational before the close of the year.

"The Women's Development Bank is expected to commence full operations before the end of the year," the Finance Minister announced.

Dr Forson also dismissed claims that the government was not spending enough to drive development, insisting that public expenditure has been undertaken responsibly and within available resources.

He maintained that the government remains committed to prudent fiscal management.

"Far from standing still, we have been steadily and responsibly deploying resources guided by the simple but firm principle that we spend only what we have, and we spend it wisely, with the future of our nation firmly in view," Dr Forson added.