The African Development Bank (AfDB) has provided a US$179.66 million loan to Botswana to support government reforms in the southern African country aimed at restoring fiscal stability and boosting post-economic recovery. -pandemic, said a statement from the financial institution released on Wednesday.
Already approved by the AfDB Board of Directors, the financing will support measures that are expected to spur economic recovery, further facilitate private sector participation in economic recovery, and promote climate-friendly agriculture and industrial development.
This will involve the implementation of various measures to improve incomes, the creation of a public procurement regulatory authority, as well as the promotion of public-private partnerships.
On the other hand, this financing is expected to stimulate the transformation of agriculture and industry by the private sector. Within this framework, a national policy for the development and transformation of agriculture will be put in place as well as a regulatory body for the meat industry.
The project will also improve the investment facilitation regime in Botswana, according to the press release.
The document specifies that, to increase resilience and social inclusion, the program will strengthen the policy framework for micro, small and medium-sized enterprises (MSMEs), promote the adoption of a technical and vocational training policy and the deployment of a single social register.
According to the AfDB, Botswana enjoys satisfactory macroeconomic stability despite the Covid-19 pandemic and the impact of Russia’s invasion of Ukraine.
The AfDB program which will directly benefit several ministries, departments, government agencies and businesses, including MSMEs, aligns with the AfDB’s Ten-Year Strategy (2013-2022) and its five strategic priorities, in particular “industrialize the Africa” and “Improve the quality of life of people in Africa”.
By OMA Newsletter N° 967 of 08/12/2022
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
