MASERU
The Ministry of Finance and Development Planning, in partnership with the African Development Bank (AfDB), has implemented a new plan to support Lesotho’s economic growth. The Country Strategy Paper (CSP) outlines how the AfDB will provide technical and financial support to Lesotho from 2025 to 2030.
Mpotjoane, speaking at the event, said the CSP is a big opportunity for Lesotho to secure more support and grow its economy. He noted that the plan aligns with Lesotho’s own development goals, focusing on areas like ICT, water, energy and multi-sectoral projects.
Mpotjoane encouraged the private sector and other stakeholders to get involved and back the plan’s implementation. He spotlighted Lesotho’s rich resources, including diamonds and water, but stressed that these need to be used productively to benefit the country.
AfDB Deputy Director General, Moono Mupotola, said the bank has been working with Lesotho since 1973 and has provided 68 loans for projects in transport, water and agriculture. She announced that 49 million USD will be invested in projects related to ICT, water and energy during the CSP period.
Mupotola praised the CSP’s focus on sustainable infrastructure and improving public sector efficiency. She mentioned initiatives like the Lesotho Lowlands Water Supply, which has improved hygiene and sanitation for many Basotho people.
Central Bank of Lesotho Governor Dr Maluke Letete expressed concern about the impact of global geopolitical conflicts on Lesotho’s development efforts. He emphasised the need for solutions to these hurdles.
The CSP launch followed a workshop where participants reviewed progress, identified challenges and agreed on ways to improve project implementation.
In general, the CSP aims to unlock opportunities for Lesotho’s growth and development, with support from the AfDB and collaboration with local stakeholders.
