The African Development Bank (AfDB) has approved a $304 million loan to support Botswana\u2019s efforts to stabilise its public finances and implement key economic and governance reforms amid falling diamond revenues.<\/p>\n
Cleared by the Bank\u2019s Board of Directors, the funding will back the Governance and Economic Resilience Support Programme (GERSP), a one-year general budget support operation for the 2025\/26 fiscal year.<\/p>\n
The loan aims to help Botswana navigate a widening fiscal deficit\u2014expected to hit 6.7% of GDP this year\u2014after the economy shrank by 1.7% in 2024, largely due to subdued global demand for diamonds, which account for around 80% of the country’s exports.<\/p>\n
\u201cThis operation comes at a critical time for Botswana,\u201d said Moono Mupotola, AfDB\u2019s Deputy Director General for Southern Africa. \u201cWe will work with the new administration to implement reforms that deepen fiscal sustainability, strengthen transparency, and create a more business-friendly environment for economic diversification.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The African Development Bank (AfDB) has approved a $304 million loan to support Botswana\u2019s efforts to stabilise its public finances and implement key economic and governance reforms amid falling diamond revenues. Cleared by the Bank\u2019s Board of Directors, the funding will back the Governance and Economic Resilience Support Programme (GERSP), a one-year general budget support…<\/p>\n","protected":false},"author":1,"featured_media":31804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-31803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n