Sign In or Register | Thursday, September 23, 2021
AfricaTeam,   9/14/2021 10:27:22 AM Add AfricaTeam as a Friend | Send Message
Africa See Profile
Botswana: African Development Bank Approves $137 Million Loan For Post-Pandemic Economic Recovery

 The funds will be used to enact multi-sector reforms that will increase spending efficiency, create jobs and drive inclusive growth
 
ABIDJAN, Ivory Coast, September 10, 2021/ -- The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $137 million loan to support Botswana’s economic recovery from the Covid-19 pandemic. The funds, extended under the Bank Group’s Botswana Economic Recovery Support Program, will be used to enact multi-sector reforms that will increase spending efficiency, create jobs and drive inclusive growth.

The project has three components: enhancing domestic resource mobilization and mitigating fiscal risks to enhance macroeconomic performance and create fiscal space for spending on social safety nets; supporting private sector-led agriculture and industry to bolster productivity and value addition, and increase job opportunities; and offering business development services to micro and small enterprises to advance social protection and gender equity. The three components are expected to reinforce one another.

 

“The African Development Bank is providing support for reforms to enhance private sector-led agriculture, and transformation of the industrial sector,” said Leila Mokadem, Director General of the Southern Africa Regional Development and Business Delivery Office. “Agriculture value addition can serve as a springboard for industrialization and job creation,” she added.

The project aligns with the Bank Group’s Ten-Year Strategy (2013-2022) and its High Five strategic priorities, particularly Industrialize Africa, and Improve the quality of life of the people of Africa.

Botswana is at very low risk of debt distress, and has a positive medium-term growth outlook, although a lack of economic diversification exposes the country to significant vulnerabilities.

 

The Bank Group’s active portfolio in Botswana amounts to UA 57.7 million ($81.9 million) and comprises four projects. The financial sector accounts for the largest share of the portfolio by sector (97.1%), followed by agriculture (1.7%) and industry (1.2%).

 


Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Tags:Botswana: African Development Bank Approves $137 Million Loan For Post-Pandemic Economic Recovery
Bookmark and Share Email Email to Friends Print Print
0
Comments(0)
Please Sign In  or Register  to post a comment.
UserName:
Password:

 
Facebook Twitter YouTube Instagram Linkedin African Music
Push
Post a New Story from your Account, then Vote for it Here by clicking Push



Most Popular
Latest Forums
Latest Polls
Links
Tags
    Nigeria    Kenya    
South Africa    Ghana    
Egypt    Ethiopia    Zimbabwe    Uganda    Africa    
Tanzania    Kenya a Hot bed of Investments    Test    Pope Francis On Safari In Kenya    Malawi    The 28th African/Caribbean International Festival of Life (IFOL) in Conjunction with The 5th Annual Jerk    Sudan    The 2nd Pan-African Cultural Festival Photos    Tunisia    2010 World Cup Draw: Which Country Has the Hottest Fans?    
Site Map | Help | Send Feedback | Contact us | User Agreement | Privacy | About us
Copyright © 2020-2022 "Africa Updates" All rights reserved