Swaziland to receive World Bank investment
21 January 2011
Swaziland is to benefit from a major investment from the World Bank that will help fund a number of projects.
A $26.9 million (£16.9 million) loan is being supplied and it will provide support to urban and rural governments, with local road schemes being one of the areas targeted.
Performance-based grants will be used to improve the transport infrastructure of the nation - which has a population of one million.
As well as this, small-scale public infrastructure projects and capacity building support agreements will also be carried out.
"In the aftermath of the global financial crisis, enabling urban and rural local governments to deliver services efficiently and cost-effectively is vital for securing broad-based economic growth," said Ruth Kagia, World Bank country director for Swaziland.
The organisation has also agreed to a $215 million loan to Ghana, which will be used to try and consolidate ongoing fiscal stabilisation and promote projects in the country.