/ 7 March 1999

$6,6m ADB FUNDS FOR LESOTHO

THE African Development Bank has approved a loan and grant package for Lesotho worth $6,6-million aimed at rejuvenating the country’s agricultural sector. The financial assistance comes from ADB’s special African Development Fund, set up to provide funding to poorer countries. The agricultural programme is expected to diversify crop production, increase productivity, boost farming revenues and reduce overall poverty in rural areas. Since 1994, the ADB has approved $276,71-million dollars in loans and grants to the impoverished kingdom.