📋 Tender Overview
IATI identifier 46002-P-SZ-K00-008
Country Eswatini
Sector Multi-Sector
High 5 Improve Life of People in Africa
Sovereign / Non-Sovereign Sovereign
Commitment (UA) 34,570,597
Project General Description
The proposed operation is an ADB loan of USD 47.5 million (Forty-Seven Million Five Hundred Thousand United States Dollars) to the Kingdom of Eswatini (KoE) to finance the Enhancing Economic Resilience and Competitiveness Program (EERCP). The EERCP is structured as a programmatic series of two consecutive General Budget Support operations covering the fiscal years (FY) 2025/26 and FY2026/27. This follows a request dated June 27, 2024, from the Government of the Kingdom of Eswatini (GoKE). It builds on the Bank’s experiences specific to Eswatini by supporting economic and financial governance reforms and capabilities. The proposed operation aligns with the country’s National Development Plan (NDP, 2023-2028). The NDP includes several strategic priorities, such as macroeconomic and fiscal stability, private sector development, efficient public service delivery, and environmental sustainability. Additionally, the EERCP aligns with the Bank’s Country Strategy Paper (CSP) 2025-2029. Under Priority Area II, the Bank aims to support the country in enhancing economic governance and reinforcing frameworks that strengthen the business-enabling environment, facilitate trade, foster Micro, Small, and Medium Enterprises (MSMEs) growth, and deepen financial inclusion. The operation will also assist Eswatini in implementing recommendations of the Southern Africa Development Community (SADC) Peer Review Report adopted by the Peer Review Panel in 2022. The report recommended, diversification of export markets and products, expediting the establishment of Revenue Stabilisation Fund (RSF) and improving energy generation among others.
Project Objectives
The program’s development objective is to enhance reforms in economic governance, public financial management, and private sector competitiveness to achieve a resilient, inclusive, and green economic recovery. The proposed operation is expected to contribute to Eswatini’s medium-term objectives of enhancing private sector competitiveness in this case supporting energy security and trade facilitation as enablers for a private sector led growth, fostering inclusive growth, and creating jobs and economic opportunities for youth and women. It will also stabilize fiscal space and enhance macro-economic stability, enabling the authorities to allocate their limited resources to priority projects. Considering declining SACU revenues, ongoing tight financial conditions, and external shocks, the Bank’s support will cushion the country’s fiscal transition while encouraging the authorities to pursue difficult structural reforms and undertake essential public investments, such as in the energy sector and critical social spending to protect vulnerable groups, including youth and women.
Beneficiaries
The beneficiaries
