Africa-Press – Eswatini. Eswatini has sealed a historic agreement with the Export-Import Bank of the Republic of China (Taiwan) for the financing of its first-ever Strategic Oil Reserve Facility.
Minister of Finance, Neal Rijkenberg, signed the milestone financing agreement that will pave the way for constructing a fuel storage facility capable of shielding the Kingdom from global supply shocks.
The agreement represents more than just bricks, mortar, and fuel tanks—it is a symbol of Eswatini’s rising ambition to chart a self-sufficient, secure, and forward-looking path in the energy sector. The Strategic Oil Reserve Facility will allow the country to store substantial quantities of petroleum products, providing a crucial buffer in times of international price volatility, regional disruptions, or geopolitical instability.
A Game-Changer for National Energy Security
“This project is a game-changer,” declared Rijkenberg during the signing ceremony. “With this strategic reserve, we are not only ensuring fuel availability during times of crisis, but we are also sending a strong message to investors, development partners, and citizens that Eswatini is preparing for the future with vision and purpose.”
The facility will serve as the backbone of Eswatini’s energy security policy, enabling the government to respond quickly to emergencies and stabilize the local market when global supply chains falter. More than a safety measure, the reserve is a proactive investment in national sovereignty—giving the country control over a critical economic resource.
Strengthening Ties with Taiwan
The project is made possible through the enduring partnership between Eswatini and the Republic of China (Taiwan), a diplomatic and developmental ally that continues to support the Kingdom’s transformational agenda. The Export-Import Bank of Taiwan’s financing underscores the depth of this friendship and its practical benefits to Eswatini’s infrastructure development.
For More News And Analysis About Eswatini Follow Africa-Press
