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Gov’t pursues P5bn in budget support loans

Friday, December 09, 2022 | 600 Views |

Watching the books: Serame sought Parliament’s fast-tracked approval of two loans this week PIC: PHATSIMO KAPENG

The Finance Ministry this week sought to push through legislative approvals for $211 million (P2.8 billion) in loans from the Japan International Cooperation Agency (JICA) and the OPEC Fund, debt which authorities say is required to plug the budget deficit and fund transformation going forward.

The African Development Bank (AfDB) separately says its board has approved a $179.7 million (P2.3 billion) loan to help Botswana “restore post-pandemic fiscal stability and economic recovery”.

While the AfDB loan is the second tranche of a facility that disbursed $137 million last year, the JICA and OPEC Fund facilities are new direct budget support for Botswana.

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