World Bank pledges M2.1 billion to Lesotho

MASERU – THE World Bank has pledged US$120 million (about M2.1 billion) for new projects in Lesotho for the coming year.

This revelation was made by the Minister of Foreign Affairs Lejone Mpotjoane at a press conference in Maseru yesterday.

Mpotjoane said the World Bank will visit Lesotho in January to look into the issues of project management, public financial management, government accountability, contracts management and procurement management.

“The World Bank raised a concern that the implementation of the projects is slow and in most cases behind schedule,” Mpotjoane said.

This came after Lesotho’s delegation led by Prime Minister Sam Matekane attended the US-Africa leaders’ summit in Washington in the United States last week.

Mpotjoane said the Summit was held to discuss how heads of government, officials, business leaders, and civil society could strengthen ties between the US and
Africa.

“One of the important issues discussed at the summit included good governance, democracy, human rights and rule of law,” he said.

The summit also discussed mitigating the impact of Covid-19 and future pandemics and strengthening regional and global health, promoting food security, advancing peace and security, responding to the climate crisis and amplifying diasporaties.

Mpotjoane said the United States also pledged at least US$55 billion (about M935 billion) to Africa over the next three years, spanning across a range of diverse sectors.

“The US further pledged to lend up to US$21 million (about M493 million) through the International Monetary Fund (IMF) for low and middle-income African countries,” Mpotjoane said.

He said the US Trade Representative signed a Memorandum of Understanding (MoU) with the African Continental Free Trade Area (AfCFTA) Secretariat to support institutions to accelerate sustainable economic growth across Africa.

He said Matekane also met the Chief Executive Officer of the American Peace Corps, Thomas Peng.

He said the US had suspended its Peace Corps operations in Lesotho due to the Covid-19 pandemic.

And after the meeting, the Peace Corps has undertaken to send over 50 volunteers to Lesotho.

Mpotjoane said Matekane also met the World Bank Group Vice-President, Victoral Kwakwa.

He said during the meeting, Matekane and his delegation stressed the commitment of Lesotho to work with both the World Bank and IMF institutions as key bilateral and multilateral partners to get Lesotho on a sustainable broad-based and inclusive growth path.

He said Matekane also met the Chair of the Senate Finance Committee, Senator Ron Wyden.

He said Matekane met the Chair of the Africa Sub-Committee, Senator Van Hollen, who was impressed to consider an extension of the Africa Growth Opportunity Act (AGOA) beyond 2025.

“The extension of AGOA will secure and create thousands of jobs in the manufacturing sector,” Mpotjoane said.

Matekane last Saturday tweeted that the secretary general of AFCFTA fully supports and wants to be part of developmental activity for Africa.

“Lesotho delegation led by myself met with his team and discussed assistance of AFCFTA in some of Lesotho government’s development activity,” Matekane said.

Nkheli Liphoto