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Friday, 05 March 2010

European Union increases its aid to Botswana

The country’s National Development Plan 10 (NDP 10) got a shot in the arm after the European Union (EU) increased its aid to Botswana by 15 percent to P650 million just before the presentation of the 2010/11 Development budget. The financing agreements are for the Human Resources Development Sector Policy Support (HRD SPSP) and the Support to Botswana – EU Cooperation (BEUC) Projects funded under the European Development Fund (EDF) 10. Last week, the Minister of Finance and Development Planning Kenneth Matambo and the Head of Delegation of the EU to Botswana, Ambassador Paul Malin, signed two financing agreements totalling P650 million to be provided as grant aid for human resource development.  The EU works in Botswana in a few key areas, including education, economic diversification, public finance management and support to non-state actors. The P105 million top up approved last December results from an assessment by the EU of Botswana’s losses in export earnings in 2008 due to falls in diamond sales. The total allocation from the European Union Development Fund to support Botswana’s NDP 10 is now P835 million.

Source: The Botswana Gazette