|Approval Date||24 Apr 2019|
|Signature Date||21 Feb 2020|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The proposed project proses a thematic Line of Credit (LOC) of up to USD 80 million to Botswana Development Corporation (BDC) to support targeted sectors such as manufacturing, logistics and services to promote “Industrialize Africa” agenda of the Bank and support economic diversification in Botswana. BDC is a development finance institution founded in 1970 by the Government of Botswana as the sole shareholder. Its mandate is to promote the development of industrial, commercial, and agricultural enterprises in the country. The company is a key player in the development of industrial parks and warehousing facilities to support industries and logistics enterprises. This is a strategic intervention which is also emphasized in BDC’ business strategy to improve access to affordable and long-term finance for local enterprises to promote inclusive growth and job creation in Botswana.
The objective of this project is to enable BDC to stimulate and grow industrial (i.e. manufacturing, transport, logistics etc.) and service sectors (i.e. health care) to enhance local companies’ competitiveness and productivity in order to produce more goods and services in the country to generate more jobs. The LOC will also contribute to the realization of the Government of Botswana's development objective of diversification of the economy.
The loan will contribute positively to growing the manufacturing sectors as well as reduce funding constraints on local enterprises. The facility will also be used to promote private sector development and to foster broad-based economic growth through job creation, increased productivity and to enhance household incomes. It will complement the government of Botswana’s efforts to diversify, expand and transform the economy and support value chain projects that enhance regional economic activities.
African Development Bank
|Last Update||07 Aug 2020|