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Lesotho Launches Strategic Partnership with EU and World Bank to Strengthen Financial Sector

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Maseru – The Central Bank of Lesotho (CBL) today hosted a strategic meeting to launch a significant technical assistance partnership involving the Ministry of Finance and Development Planning, the European Union (EU), and the World Bank. The event, held in Maseru, marks a pivotal step in enhancing Lesotho’s financial infrastructure and economic stability.

The Governor of the CBL, Dr. E. M. Letete, opened the proceedings with a warm welcome and expressed his gratitude to the esteemed partners. In his remarks, Dr. Letete highlighted the importance of this launch, noting its potential to foster economic growth and resilience in Lesotho.

The keynote address was delivered by the Honorable Minister of Finance and Development Planning, Dr. A. R. Matlanyane. She acknowledged the long-awaited nature of the launch and emphasized the significance of this partnership in reducing the economic development burden. Dr. Matlanyane called for effective collaboration with the CBL to develop strategic financial infrastructure that would not only benefit Lesotho but also its partners. She thanked the World Bank for its unwavering support in world development since 2021, underscoring the importance of sustained international cooperation.

Her Excellency, the Ambassador of the European Union, Paola Amadei, also shared her insights during the event. She highlighted the program’s potential to significantly enhance Lesotho’s financial sector, expressing her delight on behalf of the European Union. Ambassador Amadei emphasized that the program would support the advancement of digital financial services, thereby unlocking new opportunities for innovation, resilience, and sustainable development in Lesotho. She extended her heartfelt gratitude to the Central Bank of Lesotho and the Ministry of Finance for their commitment to Lesotho’s development.

The launch of this technical assistance program marks a milestone in Lesotho’s economic journey, promising to bolster the nation’s financial infrastructure and promote stability. As the country moves forward with this strategic partnership, the collaboration between the CBL, the Ministry of Finance, the EU, and the World Bank is expected to drive significant progress and foster a thriving economic environment.

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