The Arab Bank for Economic Development in Africa (BADEA) has signed a €110 million financing agreement with the Botswana Development Corporation and a €500,000 grant to the Botswana University of Agriculture and Natural Resources.
BADEA board chairperson Farhad Aldossari said the financing package is aimed at accelerating industrial development, expanding private‑sector activity and creating sustainable jobs.
The agreements were signed in Gaborone on Wednesday.
Vice President and Finance Minister Ndaba Gaolathe said Botswana regarded BADEA as a trusted development finance partner whose support had already strengthened key national infrastructure.
He cited upgrades to the terminal building and equipment at Sir Seretse Khama International Airport, as well as runway widening, terminal expansion and equipment supply at Kasane International Airport, as examples of projects delivered through the partnership.
Gaolathe said BADEA’s interventions had improved critical gateways into the economy and boosted the productive capacity of the agricultural sector, adding that the latest financing would deepen Botswana’s long‑term diversification efforts.
JN/APA