World Bank approves $75 million loan for Eswatini - News On Africa Eswatini Edition

World Bank approves $75 million loan for Eswatini

The World Bank Group has approved a $75 million loan for the Government of the Kingdom of Eswatini to accelerate post-COVID-19 economic recovery. The Economic Recovery Development Policy Loan II is the second in a programmatic series of two operations to support Eswatini’s economic reform program and generate a more resilient and inclusive economy.

The loan will help the government implement policy and institutional reforms to improve fiscal sustainability, enhance the business environment, strengthen social protection systems and promote digital transformation.

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The World Bank Country Director for Eswatini, Marie Francoise Marie-Nelly, said the loan will support the government’s efforts to mitigate the impact of the pandemic and foster a more resilient and inclusive recovery.

“The COVID-19 crisis has exposed Eswatini’s structural vulnerabilities and exacerbated pre-existing socio-economic challenges. The World Bank remains committed to supporting Eswatini’s development agenda and helping the country build back better from the crisis,” she said.

The loan is part of the World Bank Group’s broader support to Eswatini, which includes technical assistance, analytical work and financing for various sectors such as health, education, agriculture, energy and water.

Source: World Bank

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