Africa-Press – Eswatini. The World Bank Board of Executive Directors has approved a $100million(about R1.8billion) Development Policy Loan(DPL) in support of the Kingdom of Eswatini’s efforts to strengthen fiscal governance, foster private sector development, and further enhance energy security and climate resilience.
In a statement sent by the World Bank on Wednesday to editor Zweli Martin Dlamini via email email, the international financial institution said, Eswatini faces critical constraints in achieving broad-based economic growth, efficient public resource allocation, and poverty reduction.
The reforms supported under this operation are expected to contribute to job creation, poverty alleviation and better social outcomes over the medium to long term.
“The operation is aligned with key national priorities such as youth employment, digital transformation, and the transition to sustainable energy, all of which are essential drivers of inclusive growth,” said Satu Kahkonen, the World Bank Division Director for Eswatini.
On another note, the World Bank said, this $100 million policy loan “supports Eswatini’s reform agenda” as outlined in the country’s National Development Plan (2023–2028) and Programme of Action 2024.
“The policy actions supported by the loan will assist Eswatini to mobilize private capital and accelerate energy access. The operation builds on the momentum of the previous DPF series (2021–2022), as well as extensive technical assistance and analytical work conducted by the World Bank in Eswatini,” reads the statement in part.
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