Botswana secures budget loan from World Bank — Botswana Pula coins on the background of banknotes

Botswana signed with the World Bank a loan agreement worth 250 million U.S. dollars on Monday.

It is the first budget support loan that Botswana has received from the World Bank, said Peggy Serame, the country’s minister of finance and economic development, during the signing ceremony in Gaborone.

The loan will help Botswana strengthen the development of the private sector and promote a resilient green recovery, according to Serame.

Marie Francoise Marie-Nelly, the World Bank Maghreb countries director, said that Botswana has a huge potential in the renewable energy sector in terms of both local consumption and export.