The Bank of Botswana has recommended that the government approaches international financial institutions for fund the rollout of its industrial strategy, APA learnt here on Tuesday.
In its annual report released on Tuesday, the central bank said multilateral financial institutions such as the World Bank and the African Development Bank as well as bilateral arrangements remained viable options for project and infrastructure financing.
The report further notes that various financing options from international financial institutions existed, including advice on how to raise finance that could address various needs of local industries.
“Thus, given a conducive policy and macroeconomic environment and strong governance, Botswana could benefit from such funding,” according to the report.
It noted that the country could also benefit from funds from private financial institutions and those provided under initiatives such as G20 Compact with Africa, which seeks to promote private investment in Africa with a focus on policy design and governance structures for execution.
The bank said there was potential for Botswana’s industrialization strategy, with huge prospects for rapid job creation and income opportunities.
KO/jn/APA