In this regard, the Bank of Zambia and the financial service providers under its regulation and supervision are pleased to be part of the celebrations for International Women’s Day 2008 Distinguished Ladies and Gentlemen, our country has made great economic strides in the past few years. We have had positive economic growth averaging 5% in the last five years. The macroeconomic environment has stabilised with the achievement of single digit inflation as well as reduced interest rates. In addition we have seen increased investments in the mining and other productive sectors. This improved environment presents great opportunities  BIS Review 29/2008  1  for our country for both men and women. As you all know, women have from time immemorial taken centre stage in the running of small and medium enterprises ranging from agriculture, mining, and tourism, to manufacturing as well as cross border trading. All these economic activities need financing in order to grow and contribute to our country’s Gross Domestic Product. Ladies and Gentlemen, this brings me to the theme of International Women’s day for this year and that is “Financing for Gender Equality”. At the international level, commitments have been made on financing for gender equality and the empowerment of women by governments all over the world. A large number of governments have taken initiatives to integrate gender perspectives into their national budgets in order to reflect the differentiated needs of women and men. At a national level, Zambia is committed to financing for gender equality.
Ladies and Gentlemen, I am happy to inform you that among the products on exhibition here, we have Finance Building Society marketing loans without collateral. This is a very welcome  2  BIS Review 29/2008  development as one of the challenges to women accessing finance is the requirement for collateral which most do not have. We also have the United Nations country office with all their respective agencies participating in this exhibition to show case how they are supporting women in this country. We appreciate your collaboration with us in this exhibition. The Environmental Council of Zambia has also joined with the financial institutions to increase our awareness on environmental issues and thus promote sustainable development. Distinguished Ladies and Gentlemen, I believe the next two days will be very informative and rewarding. We have 10 commercial banks, 2 building societies and over 10 microfinance institutions exhibiting their products. I understand that tomorrow, these institutions will be recognizing some of their most loyal and exemplary customers and for this I commend them. I am sure that not only women but men will find this exhibition beneficial and I wish you a productive and informative two days. Thank you. BIS Review 29/2008  3