World Bank approves further P2bn loan

Monday, June 26, 2023 | 530 Views |

Going green: The World Bank’s funding is designed to improve post-pandemic economic resilience and also help the country’s renewable energy transition PIC: PHATSIMO KAPENG

The World Bank’s board has approved a $150 million (P2 billion) loan for Botswana, aimed at supporting the country’s efforts to rebound from the pandemic, boost the private sector’s contribution and also drive sustainable development initiatives.

In a statement on Wednesday, Marie Francoise Marie-Nelly, the World Bank country director for Eswatini, Botswana, Lesotho, Namibia, and South Africa, said the effects of the COVID-19 pandemic and other global shocks had made the need to diversify the economy, create more jobs, and rebuild fiscal buffers more urgent.

“We are pleased to support the government’s efforts to put Botswana on a more inclusive, resilient, and low-carbon growth path,” she said.

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