By Ncaba Ntshakala
The World Bank has effectively dispelled lingering myths about its operations during an informative media engagement held at the UN House in Mbabane.
Ikechi Okorie, the World Bank Country Representative, provided an in-depth overview of the organization’s engagement strategy and its instruments in Eswatini.
Okorie began by clarifying that the World Bank is a non-profit development cooperative owned by 189 member countries which Eswatini is also part of.
Its primary mission is to end extreme poverty and ensure a livable planet, aligning with the Sustainable Development Goals.
The World Bank stands as the largest source of development finance and expertise globally, with over 75 years of experience in financing development projects.
It boasts about E4 trillion (US$240 billion) in loans to 77 countries and employs nearly 12,000 staff across 136 offices, including its headquarters in Washington, DC.
The institution’s largest shareholders include the United States, Japan, China, Germany, France, and the United Kingdom.
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Okorie highlighted that the International Bank for Reconstruction and Development (IBRD), known as the “World Bank” in capital markets, maintains an AAA/Aaa rating due to its strong capital, reserves, and prudent financial policies.
He explained that the World Bank Group (WBG) operates as a unified entity comprising five affiliated institutions, all working together with public and private sectors to end extreme poverty and boost shared prosperity on a sustainable planet.
Currently, the World Bank supports Eswatini with five projects worth E2.7 billion (US$151.1 million) since 2019.
Zandisile Mamba from the Eswatini Water Services Corporation (EWSC) reported significant progress on the E815 million (US$45 million) Eswatini Water Supply & Sanitation Access Project.
The project is 98% complete with concrete reservoirs and a pump station near completion.
The construction of the main pipeline from Nhlangano to Zombodze, currently at 16%, is projected to finish by February 2025. This project will provide clean and accessible water to three constituencies:
Hosea, Shiselweni I, and Zombodze, benefiting 11,000 people and reaching 2,000 households, 32 schools, and 4 clinics.
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Josephe Ncwane, the Project Coordinator, discussed the E725 million (US$40 million) Network Reinforcement and Access Project, aimed at improving electricity reliability and access in the Shiselweni region.
This project is expected to benefit approximately 8,000 households, or 30,000 people, enhancing the quality of service for existing residential, commercial, and industrial customers of the Eswatini Electrical Company (EEC).
Other World Bank-funded projects shared during the session included the Strengthening Early Childhood Development and Basic Education Systems project, the Eswatini Covid-19 Emergency Response Project, and the Investing in Human Capital Development in Eswatini project.
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These projects have made notable progress and have positively impacted the livelihoods of many Emaswati.
The media engagement concluded with a lively discussion where World Bank officials answered questions and provided clarifications.
Mbongeni Mbingo, the Chairperson of the Editors Forum, commended the session, highlighting its relevance and the valuable insights it provided to the media.
He emphasized the importance of such engagements for enhancing understanding and transparency between institutions and the public.
