EU OFFERS E92M FOR JOBS, CLIMATE

MBABANE – The European Union has pumped in E92 million to finance job creation and investment in climate change.

The main focus of the programme are the most vulnerable enterprises and sectors that were mostly affected and continue to be affected by the COVID-19 pandemic.

The ultimate goal is to create decent jobs and ease the medium-term economic impact of the COVID-19 crisis in the country.

The grant was announced at the Bethel Court yesterday, during the signing of the financing agreement between EU Head of Delegation in Eswatini Esmeralda Hernandez Aragones, Commerce, Industry and Trade Minister Manqoba Khumalo and Economic Planning and Development Minister Dr Thambo Gina.

achievement

Aragones said the objective of the programme was to assist with the achievement of a private sector-led economic recovery, which would also empower women and the youth.

“The EU is committed to support and facilitate a permanent dialogue between the government and the private sector to improve the business environment,” he said.

dialogue

She said this programme would strengthen private-public sector dialogue on the ease of doing business and MSME competitiveness, by supporting the development of state-business relations secretariat in the country.

“The programme also aims to boost investments from the EU in Eswatini and to improve access to the EU market for companies from Eswatini. It will focus on MSMEs, mostly the ones that have the potential to export to regional and European markets,” the ambassador said.

Aragones highlighted that the end result of the programme that would be implemented over a five-year period was digitalisation of the businesses; skills improvement of the youth and green economy. 

Minister Khumalo said the funding came at a time when they were recognising the importance of trust in the formation of a strong, productive, conducive environment and lasting relationships with all players in the productive economy.

“Our theme this year is ‘A year for micro, small, and medium enterprise (MSMEs)’. Therefore, this project is a direct response that we hope as sector will bring significant multiplier effects to employment, an improved net current account in the balance of payments, accelerated economic growth and further improve the livelihoods of emaSwati.”

creation

He said support to job creation and investment in climate change has become a global necessity and presented an opportunity for both the public and private sector to engage and come up with projects that will bring an upturn in the economy.

“We are all aware that all businesses have suffered immensely from the effects of the COVID-19 pandemic. As a country, this is the right time to approach business in another sphere.”

Khumalo acknowledged the EU for its prompt response to this initiative.

Minister Gina said, “This   particular contribution is directly linked to the overall thematic focus of achieving economic growth by promoting private sector development, which will create jobs and help raise incomes as we tackle poverty issues and ultimately grow the economy.”

contributed

He highlighted that the EU was committed to Eswatini’s development course and has already contributed over E6.5 billion over the past couple of years towards the LUSIP project, construction of roads and bridges, irrigation schemes, primary education, expansion of health facilities, business development and land development.

“The EU therefore remains Eswatini’s foremost development partner in terms of the breadth of our cooperation on development and trade at national, regional and international level; the number of sectors that are being supported; and the way the support is integrated with our national priorities and programmes.”

He expressed gratitude at the EU Ambassador for always doing her utmost best to ensure that the interest of the country was well-considered.

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