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World Bank to consider P1.9bn loan to gov’t

Friday, November 25, 2022 | 420 Views |

Reaching out: Wang has been engaging various local authorities since he landed in Botswana to head up the World Bank’s office. He says his focus is how the World Bank can be a more effective implementation partner to help Botswana achieve its hopes of becoming a high income economy PIC: KENNEDY RAMOKONE

The World Bank’s board will consider a $150 million (P1.9 billion) loan to Botswana early next year, which, if approved, will go towards supporting the country’s budget, the green transition and sustainable development.

The loan will be the second and last in a series which produced the $250 million (P3.2 billion) funding in June 2021, a rare instance of direct budget support from the World Bank to Botswana. Both sets of funding are known as “development policy loans” which are tied to policy priorities the Bank and the receiving government agree to pursue.

The World Bank’s new resident representative to Botswana, Liang Wang told BusinessWeek work was progressing towards assessing the new loan.

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