Africa-Press – Eswatini. Eswatini has signed the largest loan agreement in its history, an impressive US$300 million (E5.3 bn) deal with Taiwan’s Exim Bank.
This strategic partnership will fund the development of a national fuel reserve, a project set to drastically enhance the country’s energy independence and economic resilience.
The signing took place during a high-level delegation visit to Taipei, led by Senator Pholile Shakantu, Minister of Foreign Affairs and International Cooperation. The agreement was formalised by Finance Minister Neal Rijkenberg and Taiwan Exim Bank President Mr. Hsieh, underlining a milestone in Eswatini–Taiwan relations.
“This partnership not only strengthens bilateral ties but also demonstrates a shared commitment to sustainable development,” said Shakantu. “We are pleased that the vision of His Majesty King Mswati III to make Eswatini energy sufficient is finally being realised.”
The strategic fuel reserve will act as a buffer against global oil market volatility, securing a steady energy supply. In addition, it will generate employment and support community-level economic activity.
Minister Rijkenberg highlighted the importance of this step: “The establishment of a strategic fuel reserve is a vital move towards ensuring energy security for our nation. This partnership enables us to build a sustainable and resilient energy foundation for our future.”
Chairman of EximBank Mr. Teng-Shan Tai echoed these sentiments, stating, “We are optimistic about the success of this initiative and its potential to positively impact Eswatini’s development goals.”
As Eswatini intensifies its efforts to secure long-term infrastructure and energy solutions, this landmark agreement sets the tone for a future defined by stability, growth, and strategic partnerships.
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