The African Development Bank (AfDB) has approved a $80 million line of credit for the Botswana.
The Board of Directors of AfDB made the approval for Botswana Development Corporation (BDC) for the implementation of the country’s industrialization and regional integration programme.
AfDB chief investment officer Kazuhiro Numasawa said the line of credit would be provided via the African Development Bank’s private sector window and would be used to finance players in Botswana’s manufacturing, transport, logistics and services sectors.
“In total, the projects are expected to create between 2500 and 2800 jobs, including 1200 to 1300 for women in these sectors,” he said.
The BDC is Botswana’s leading development finance institution and is 100 percent owned by the government. Its mandate is to promote industrialization in Botswana by developing local and regional value chains.
Numasawa said the financial support provided by the AfDB would help mobilize the long-term financing required for economic diversification of the country, with an emphasis on increasing exports and creating jobs.