The  Government of Lesotho and the Millennium Challenge Corporation (MCC) have signed an US Dollar 1.4 million (approx. M9.5 m) agreement to finance the updating of the Metolong dam feasibility study as well as policy reforms associated with improving the country’s investment climate; capacity building and support to small, medium and micro-enterprises (SMMEs).  

The financing will help complete and expand a prior feasibility study of the Metolong Dam, addressing technical issues, revising project costs as well as examining industrial wastewater recycling improvements for increased water exploitation. The activities are expected to be implemented within the next 10 months. 

The proposed policy reforms have been divided into four groups: the financial,  land tenure and mortgage; judiciary improvements, including a Commercial Court, Credit Bureau, access of women to credit or ability to transact business in their own right; immigration and customs and; capacity building and training. 

Lesotho was among the first 16 countries rated on the basis of ruling justly; investing in their people and; implementing policies that promote economic growth.  Other African countries included in this first grouping are Benin, Cape Verde, Ghana, Madagascar. Mali, Mozambique, Senegal and Morocco. 

Meanwhile, the Ministry of Foreign Affairs has announced that Lesotho has been chosen, at the World Economic Forum, in Cape Town, as one of three countries considered for a pilot project for the supply of electricity in rural areas outside of the national grid. 

The Energy Poverty Action (EPI) initiative facilitated by the World Economic Forum and proposed by a group of nine companies during this year’s WEF annual meeting in Davos, Switzerland, aims at addressing poor countries’ energy needs and in this way contributes to the UN’s Millennium Development Goals (MDGs). 

The country’s delegation to the Africa Economic Summit was led by the Prime Minister, Mr. Pakalitha Mosisili and also included the Ministers of Foreign Affairs and Finance and Development Planning.

10 June 2005