M1.1 billion secured to combat Covid-19

Staff Reporter

Maseru – Finance Minister, Honourable Thabo Sophonea, this morning delivered the budget speech for the 2021/2022 fiscal year titled “Navigating the New Norm towards Transformation and Economic Recovery.”

Among other issues, Sofonea highlighted that the government of Lesotho has so far secured more than US$74 million (over M1.1 billion) in loans and grants towards fighting Covid-19 so far. This amount is broken down as follows: A US$7.5 million loan from the World bank; a US$24.1 million loan for emergency support from IMF; a EUR5.5 million grant from the European Union; and a US$36.9 grant from the US.

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