GOVERNMENT SECURES P3 BILLION LOAN FROM BPOPF TO FUND DEVELOPMENTAL PROJECTS.

Article By: Diana Motsu

In a move to address pressing funding needs, Parliament has approved a loan of 3 billion pula from the Botswana Public Officers Pension Fund (BPOPF).

The loan comes with favorable terms for the government, including a seven-year repayment period. Additionally, the government has been granted a two-year grace period before it begins repaying the principal amount, providing it with the flexibility to allocate resources toward ongoing projects.

Furthermore, the loan carries a fixed interest rate of 11%, and there is a two-year moratorium on interest payments, which further eases the financial pressure in the initial stages.

Minister of finance Ndaba Gaolathe highlighted that the funds will be instrumental in financing projects across various sectors, including infrastructure, healthcare, and education, contributing to the government's broader agenda of improving the quality of life for citizens and stimulating economic growth.