African Development Bank Group Board Approves New Strategy to Drive Economic Diversification and Private Sector-led Inclusive Growth in Lesotho
Lesotho, Sept. 23 -- The Board of Directors of the African Development Bank Group has approved a new $209 million Country Strategy Paper (CSP) for Lesotho, setting out a roadmap to accelerate the country's transition toward economic diversification, resilience, and inclusive growth over the next five years.The approval comes at a crucial moment for the landlocked country, which continues to face major development challenges, including the impact of a recent 15 percent U.S. tariff on apparel exports, the loss of Official Development Assistance following the cancellation of the $300 million Millennium Challenge Corporation compact, and its reliance on regional economic performance. Nearly half of Lesotho's population lives in poverty, and you...
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