Eswatini - Support for Economic Recovery and Inclusive Growth (SERIG) Phase I

The proposed intervention is an ADB loan of thirty-six million United States Dollars (USD 36m) to the Kingdom of Eswatini to finance the Support for Economic Recovery and Inclusive Growth (SERIG). The SERIG is designed as a programmatic series of two consecutive General Budget Support operations covering the fiscal years 2021-2022 and 2022-2023. This is the first Bank Group program-based operation for Eswatini and is in response to a request from the Government of Eswatini in July 2020 for support towards mitigating the impacts of the COVID 19 pandemic. The program is anchored on principles of good governance. It is focused on attaining fiscal consolidation, creating a conducive environment for a vibrant employment generating private sector and improving livelihoods and expanding social protection for inclusive growth. Through its focus on securing a sustainable macroeconomic framework, improving public finance management and enhancing private sector competitiveness, the proposed operation will improve livelihoods and enhance socio protection, thus yielding an improved quality of life for the people of Eswatini, and in particular women, youth and rural communities.