At its Meeting of 9 June 2005, the Financial Institutions Supervision Technical Committee (FISTC) approved participation of two officers of the Central Bank in the District Cooperatives Day Celebrations.  During their participation in the celebrations, the Central Bank officials will seize the opportunity to promote the Export Finance and Insurance Scheme among registered cooperatives, which will take part in the celebrations.

The Export Finance and Insurance Scheme facilitates lending to exporters by providing credit guarantees to commercial banks on behalf of financed exporters.  The scheme is operated by the Central Bank of Lesotho on behalf of the Government of Lesotho.  Its key objective is to enhance economic growth by assisting local exporters gain competitive advantage in the international markets, with the aim of achieving poverty reduction and job creation.

The District Cooperatives Day Celebrations have been organised by the Cooperatives Department of the Ministry of Trade, Industry, Cooperatives and Marketing in preparation for a National Cooperatives Day.

The Bank officials will attend Cooperatives Day Celebrations in the following districts:

 Mokhotlong on  13 – 15 June 2005

Leribe on         15 – 16 June 2005

Mafeteng on     29 – 30 June 2005

Join us and hear more about the Export Finance and Insurance Scheme.