banks can now enter into forward foreign exchange contracts with local importers of rice, wheat, flour, edible oils and milk to hedge against future price increases. previously, commercial banks could only match forward sales with forward purchases. we hope that this measure will reduce import costs on food items and this benefit will be passed onto the customers. westpac at mhcc let me get back to mhcc and westpac. for a shopping mall that opened in december 2007, mhcc already looks like a place to be in suva. it appears that john and his westpac team won what may have been a scrabble to open a branch at mhcc. with the volume of foot traffic i see today, this branch may be a small point of representation for westpac, but it is certainly going to be a busy one. i am also told that with more cruise ships calling into suva, the traffic will become even more intense. retail businesses are important users of financial services and i can say that westpac has them covered. westpac ’ s presence at mhcc will compliment its branches in cumming street and thomson street. i have been told that apart from personal banking services, this branch will offer foreign exchange and international services like travelers ’ cheques and telegraphic transfers. as you can see, this branch features an internet and telephone banking kiosk for customers wishing to do their banking online instead of standing in the queue. there is also an atm that is accessible from 9. 00am to 9. 00pm – the opening hours of mhcc. shoppers and customers will be glad to know that this branch operates extended banking hours from 9. 00am to 4. 00pm daily and on saturdays from 9. 00am to 1. 00pm. this branch will also open on sundays when cruise liners are in port. i take this opportunity to thank westpac for its leading role in servicing the business sector and the wider fiji economy through its expanding outreach, innovative products and the latest banking technology. official opening i thank mr. cashmore for his kind invitation. i wish him and his team at westpac every success in their operations in fiji. i now have much pleasure in declaring the westpac mhcc branch open. thank you.

##gf framework to guide our policy initiatives, we recognise that each country has its own set of implementation challenges and that the transition towards greening the 1 / 3 bis central bankers'speeches financial sector will not happen overnight. additionally, climate financing is not cheap. realistically, we cannot expect government to bear this cost alone. as regulators, we therefore have an important role to play in ensuring multistakeholder collaboration and securing private sector support towards bridging this financing gap. we must also align our green finance strategies with national sustainable finance priorities and encourage the inclusion of climate disaster vulnerable groups including our women and our micro and small businesses. leveraging fintech presents a cost - efficient means of addressing frictions and enhancing channels for financing igf projects. furthermore, undertaking comprehensive capacity building and awareness is required to educate our stakeholders on the igf agenda and build support towards implementing green finance policies. as a last word on developing initiatives, i would like to share a sentiment recently shared at a forum of banks and regulators discussing climate risks : we need to guard against the pursuit of perfection over results. there is balancing required between being exactly wrong versus being useful and directionally correct. for this reason, we should be prepared to trial and error as we develop approaches. integration into financial inclusion and national level strategies similar to other countries that are experiencing the unprecedented impacts of climate change and disaster risks, fiji has made considerable progress in ensuring that its climate response is well aligned with national and international commitments. this, includes establishing a legal framework for planning, implementing, and monitoring fiji ’ s national climate change response and its commitments under the united nations framework convention on climate change ( unfccc ). fiji ’ s draft climate change bill aims to prompt innovation and foster greater collaboration between stakeholders ( private sector, civil society, academia, government agencies ). the outturn is anticipated to enhance greater confidence amongst international and domestic investors, thereby boosting an enabling environment for integrated public - private financing, investments, and decision - making. another key consideration is factoring gender into the development of green finance initiatives as we recognise that women are amongst the most vulnerable and most affected by climate disaster events. the importance of undertaking a bottom - up approach to consultations cannot be understated and we need greater involvement of our target audiences in policy development. it is therefore important that we incorporate women ’ s input and viewpoints early in the planning and design stages to improve the effectiveness of igf products and services. as you would have learned over