The African Development Bank (AfDB) has announced a US$57.8 million facility to assist eSwatini upgrade the highway to the King Mswati III International Airport near the capital Mbabane and transform itself into an industrial hub.
AfDB president Akinwumi Adesina told journalists on Wednesday in Ezulwini that about US$32 million would be used to ease congestion on the highway to the recently constructed airport.
The remainder of the funds would go towards fulfilling eSwatini’s ambition to transform itself into an industrial hub for manufacturing, agribusiness, and information and communication technology.
“This funding will empower the youth to start businesses that would minimize the high numbers of unemployment as it will finance small and medium enterprises,” the AfDB president said.
eSwatini’s youth unemployment rate is estimated to be around 65 percent.
BM/jn/APA