I should like to indicate already at this stage that my opening remarks may slightly exceed the usual time frame. 1. Economic and monetary developments  Since my last appearance before this Committee on 5 March 2001, the Governing Council of the ECB decided to reduce its key interest rates by 25 basis points on 10 May.
The Bank is ready to assist contractors make advance purchase of materials as long as all required procedures are followed and that the arrangement has the blessing of the Consortium. The road has been long for us to arrive at this stage. The design process for the Mzuzu Branch started as far back as 2006.