New Delhi, Jan 18 (KNN) In a bid to facilitate financial inclusion in the country, Zimbabwe is set to launch the first of its kind - Women Bank, to support the financial needs of the micro, small and medium enterprises (MSMEs) operated by women.

Women and Youth Affairs Minister, SIthembiso Nyoni in a press interview informed that the bank is set to be opened in February.

The Minister said that once the bank becomes functional, it is likely to provide to be instrumental towards hand-holding the women MSMEs in the country.

The decision to come up with such bank comes amidst complaints that the banks are not very open to lending to women.

Addressing a gathering of women entrepreneurs, the Minister assured that her office is committed towards hand-holding the MSMEs in the country and women will now be able to get their due share of support from the government.

The country at present has over 25 broad banking firms, despite which there have been issues raised in the past regarding the bias of the institutions towards offering loans to women operated MSMEs.

The bank is to become symbolic towards women empowerment, both for the country and for the rest of the world, the Minister further said.

Earlier the inaugural of the bank was to happen in November of 2017, but got delayed due to certain logistical reasons, the Minister informed. (KNN/DA)