Botswana gets P1.2bn World Bank loan

The project, which will see new links between Botswana and neighbours South Africa, Zambia and Namibia through rail and road and is estimated to cost US$385.12 million (P2.6 billion) in total. Speaking at the loan agreement signing ceremony on Monday, the Minister of Finance and Development Planning, Kenneth Matambo, said the OPEC Fund for International Development (OFID) has also pledged US$40 million (P267.6 million) whilst the Government of Botswana will provide the balance of US$159.12 million (P1.06 billion).

"These project is a regional integration vision for Botswana, with emphasis on a regional dimension of the transport sector. It will spur economic growth in Botswana and the region at large and also reduce traffic congestion in the country," Matambo said.