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Indo-Zambia Bank limited has contributed K45 million towards the expanses for the State funeral of President Levy Mwanawasa.

The contribution which has already been handed over to the Bank of Zambia is the first by a commercial bank after the central bank requested various banks to open accounts for the State funeral expenses.

And speaking after receiving the cheque, Bank of Zambia Governor, Caleb Fundanga commended Indo Zambia Bank for the gesture.

Dr. Fundanga said government alone could not meet the state funeral expenses because they were enormous.

He said the gesture is also in line with the Zambian tradition of contributing and gathering resources for the funeral to ease the burden of the mourners.

Dr. Fundanga has urged Zambians to contribute towards meeting the state funeral expenses by depositing their money in commercial banks.

The commercial banks in turn will transfer the money to an account at Bank of Zambia.

The Central Bank will later hand over the money to cabinet office.

And Dr. Fundanga said his institution has also opened a book of condolences in honour of President Mwanawasa.

Earlier, Indo Zambia Bank Managing Director, Cyril Patro commended the Bank of Zambia for calling upon commercial banks to contribute towards meeting President Mwanawasa’s funeral expenses.

Mr. Patro said the bank’s initiative would help sustain government’s expenditure during the national mourning period.

Source: ZNCB

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