The Government of Lesotho and the World Bank have signed financing agreements worth approximately M900 million to expand electricity access, strengthen skills development, and improve nutrition outcomes across the country.
The agreements were signed by Minister of Finance and Development Planning, Dr. Retšelisitsoe Matlanyane, and World Bank Country Representative, Ms. Dinara Djoldosheva.
The largest allocation, US$50 million (about M820.4 million), will fund the Accelerating Sustainable and Clean Energy Access Transformation in Lesotho (ASCENT) Project, which is expected to provide reliable and affordable electricity to nearly 147,000 residents and businesses, particularly in peri-urban, rural and highland areas.
Additional grants include US$1 million (M16.4 million) for preparation of the Lesotho Skills Acceleration Project and US$300,000 (M4.9 million) for the Lesotho Multisectoral Nutrition Project.
Dr. Matlanyane said the investments reflect Government’s commitment to improving the lives of Basotho through strategic investments in critical sectors, while Ms. Djoldosheva reaffirmed the World Bank’s support for Lesotho’s inclusive and sustainable development agenda.
The agreements are expected to contribute to economic growth, job creation and improved living conditions across the country.
Source: Government Spokesperson’s office
