AfDB avails P1.4bn to support Botswana

Helping hand: Part of the funds the AfDB is making available will cover a planned solar project. PIC: GLOBALENCO.COM
Helping hand: Part of the funds the AfDB is making available will cover a planned solar project. PIC: GLOBALENCO.COM

The African Development Bank (AfDB) is making available P1.4 billion to support various developmental programmes in the country within the next two years, with the funding coming through loans and technical support, BusinessWeek has learnt.

The funds, detailed in a Country Strategy Paper released this week, are expected to rise when authorities finalise the second part of an Economic Recovery Support Programme later this year. Under the first phase of the programme, government received $137 million (P1.5 billion) in September last year as post-COVID budget support.

According to the country strategy paper, the funding being made available by the AfDB is designed to support Botswana’s ambition to diversify its economy and speed up structural transformation for sustainable and inclusive growth.

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