NEW 4-YR STRATEGY FOR INCLUSIVE, SUSTAINABLE GROWTH

MBABANE – Government is working on the new Eswatini Country Strategy Programme for 2025-2028 designed to support Eswatini overcome critical development impediments.

The new programme seeks to support the country’s sovereign and non- sovereign investments, policy reforms, capacity building and knowledge and to help lay resilient foundations for inclusive and sustainable growth. The new strategy is being developed with the assistance of the African Development Bank (AfDB). The new strategy has been developed following that the Eswatini Country Strategy Programme (CSP) 2020- 2024 with the AfDB is coming to an end this year.

The strategy will also provide for flexibility to respond to evolving needs and priorities in a changing development context. The new strategy seeks to help lay resilient foundations for inclusive and sustainable growth under two priority areas:
Priority Area I: Climate-resilient infrastructure to drive productivity and diversification and support will focus on the agriculture, transport, energy and water sectors.
Priority Area II: Strengthening governance and private sector development to promote an enabling environment for economic competitiveness.
Minister of Finance Neal Rijkenberg said on the first priority  area; the focus will be particularly on building holistic infrastructure around the Mkhondvo-Ngwavuma Water Augmentation Programme (MNWAP) to improve value chains in agriculture to drive inclusive green growth.

He said this will be one big project that the country and the AfDB will be working on for the next five years. He highlighted that, already two loans have been disbursed for this project in the last 18 months, each one to the tune of over E2 billion. He said annually, there will be some funding coming in for this project. Rijkenberg added that on the second focus area; the focus will be strengthening governance and private sector development to promote an enabling environment for economic competitiveness. He said this will focus on helping the private sector strive.

It is worth noting that the bank visited the Kingdom of Eswatini on the period of March 4-11, 2024. The purpose of the visit was to assess achievements of the bank’s 2020-24 CSP for Eswatini at completion, review the performance of the portfolio and draw lessons learned during the CSP implementation and to also discuss with government and stakeholders the broad strategic orientations to inform the priority areas for the new CSP 2025-28. During the March 2024 visit, the bank noted the need to build on the achievements of the current CSP and consolidate support around the existing areas of focus.

Engagement

The bank further noted the need for continued support to ongoing governance reforms to safeguard macroeconomic stability and enhance competitiveness for the private sector to flourish.
Speaking during the AfDB 60th anniversary on Monday evening, Rijkenberg said Eswatini has implemented several country engagement programmes with the bank group and they are currently working on the new programme for the 2025-2028 strategy as they pursue the development thrust of the country beyond the 60 years existence of the AfDB.

“I wish to thank the bank for taking time to visit Eswatini specifically this past week to conduct close consultations with the government, the private sector for the process of finalising the new country strategy programme for us and I thank the institutions and government,” said Rijkenberg. The minister said ministries have taken time to meet with the bank and shared the strategic direction that the country would like to take as guided by the National Development Plan. He said the ministries recently approved government’s programme of action spearheaded by the prime minister.

Initiatives

He urged the bank to have a closer look at these documents and support their implementation within the key pillars of engagement. Director General of the African Development Bank Group Leila Mokaddem said bank is dedicated to several cross-cutting initiatives that amplify its impact. Mokaddem said promoting gender equality is a key priority, ensuring that at least 50 per cent of project beneficiaries are women, fostering inclusivity and empowering women across Eswatini.“Climate resilience is another critical focus. The bank is investing in climate-smart infrastructure and mobilising additional climate finance to help Eswatini adapt to changing environmental conditions,” she said.

Mokaddem added that by integrating internships and skills’ training into all projects in Eswatini, the bank is nurturing the country’s future leaders and innovators, creating valuable pathways for young people to pursue meaningful and sustainable careers.

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