EU’s multi-million investment

Baitshepi Sekgweng
Petra-Pereyra (Credit; Tshekiso Tebalo/Xinhua)
  • European Union invests in a green, diverse Botswana

As part of their efforts to promote green transformation, the European Union (EU) are splashing out 16 million Euros (P213 million) on Botswana.

As well as helping the country go green, the cash, to be channeled through the Multiannual Indicative Programme, is to be used for economic diversification and job creation.

Additional funding is also in the pipeline following a review that will take place at the end of 2024.

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The programme comes on the backdrop of a consultation process between government, civil society, private sector and the EU on how best to support the country’s attempts to transform its economy, reduce poverty and attain high income status by 2036.

Under the green agenda, the EU will support Botswana’s efforts to push sustainable energy, biodiversity conservation linked to livelihoods support, sustainable tourism, climate resilience as well as waste management and the circular economy.

The end goal is to reduce pollution, waste and greenhouse gas emissions.

With Botswana bathed in sunshine for over 3, 200 out of 8, 760 hours in a year, the country has abundant solar energy resources to be tapped into.

According to EU ambassador to Botswana and Southern African Development Community (SADC), Petra Pereyra, the programme’s ultimate aim is to unleash the country’s full economic potential.

solar-panel-(credit;-All-season-solar)

“Botswana has an enormous potential for renewable energy in particular by developing solar energy. It has enormous potential if it invests in its youth to make them the driving force behind the diversification and development of the economy and the country,” she told the media at a gathering in the capital on Tuesday.

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Pouring praise on Botswana’s rich resources, Pereya continued, “Due to amazing natural capital and rich biodiversity, Botswana can use this for supporting the livelihoods of rural communities and promoting ecotourism. Further, the way Botswana delivers its services to people with digital means and by improving the digital access for all can transform the economy.”

With regards to economic diversification and job creation, EU’s support will target investment promotion and trade in line with existing programmes as well as digital and skills development. It is hoped this will boost government on its journey to move from a natural resource based economy to a knowledge-based one.

Moving forward, Pereyra revealed Botswana and the EU are poised to put pen to paper on a number of new deals.

These include: accelerating sustainable and productive investment in renewable energy and efficiency through funding worth P73.3 million, investing P66.7 million into Digital Transformation with and pumping P33.3 million towards a Measures Facility – a scheme with priority areas of treatment, storm water management and continuous monitoring systems.

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