Multilateral financial institution the African Development Bank (AfDB) is investing $331 million in Lesotho. The funding will support the development of strategic sectors across the Kingdom, including infrastructure and energy.
The AfDB’s investment strategy covers key priority areas, such as energy infrastructure – including establishing energy transmission lines connecting the Kingdom to South Africa – digital transformation; trade competitiveness; agriculture development and water resource management.
“With haste, we will ensure that the policies and incentives to accommodate the needs of and attract the private sector are in place, especially in healthcare, agriculture and manufacturing,” stated King Letsie II of Lesotho.
The funding commitment comes as the AfDB publishes its 2025-2030 Country Strategy Paper for Lesotho, which aims to support economic growth and industrial competitiveness. The AfDB has invested $429 million in Lesotho since 1972, with 87 projects implemented across various sectors of the economy.
“We have eight ongoing projects worth $60 million and we look forward to significantly expanding our commitments,” said Dr. Akinwumi Adesina, President, AfDB.
