The Prime Minister, Mr. Samuel Ntsokoane Matekane officially launched the entry into force of the Millennium Challenge Compact II at the event held in Thaba-Bosiu on Thursday.
Speaking at the event, the Prime Minister said the Compact II, which was given the new Sesotho name ” Leboela la Seepa Meri” will go a long way in promoting economic growth, job creation and better health for Basotho.
He added that the $300 million fund injected into the project, which is approximately M5.7 billion is a major boost for Lesotho’s investment programme and brings confidence to potential investors who are looking for opportunities and a better life.
He noted that through the second Compact, the country will see access to services and opportunities for everyone, especially women, youth, persons with disabilities and other marginalized groups.
The PM further said the Compact which comes at a point when Basotho commemorate 200 years has the potential of creating 4000 jobs, assuring the government of the United States of his commitment to ensuring that every dollar invested in this programme will be used for the benefit of Basotho.
Mr. Matekane also acknowledged the dedication of all those who contributed to ensuring the compact became a reality.
” The countdown for the five-year implementation of this program has begun and we cannot afford any delays,” he stressed.
Speaking at the same event, the Minister of Finance and Development Planning, Dr Retšelisitsoe Matlanyane reiterated that the programme came when the economy of the country is at a critical point.
She said through this programme, the country will invest in various projects for five years, which include amongst others, the multi-dollar infrastructure and health system strengthening project.
She added that it will not only promote irrigation infrastructure but will improve livelihoods and empower farmers with modern techniques.
She noted that once completed, it will contribute towards the reduction of food imports and improve job creation.
On the other hand, the Millennium Challenge Corporation Deputy Chief Executive Officer, Ms. Chidi Blyden said the US government is one of Lesotho’s oldest partners and has supported her through key initiatives such as the President’s Emergency Plan for AIDS Relief and the African Growth and Opportunity act which has supported a thriving trade partnership.
She added that Lesotho has also been a longstanding partner of MCC since 2008 with a $362 million investment, saying together with the $300million invested by MCC and $22 million by the government of Lesotho in compact II, they will spur development and financing for businesses, invest in irrigation and agricultural production to improve climate resilience, particularly for local farmers and improve the delivery of healthcare to hundreds of thousands of Basotho people.
US Chargé d’Affairs, Keisha-Toms Boutaleb said the enactment of the Labour Code Amendment Act and Occupational Safety and Health Act amongst others signified Lesotho’s commitment to ensure the success of the implementation of the Compact.
Meanwhile it is expected that the programme will start offering some of the services this year and finances will be used by the first quarter of 2025.
Source: LENA 11/04/2024
