Roundtable on Enabling Policies for Financing Sustainable Development and Enhancing Poverty Reduction

In a landmark collaboration between the Central Bank of Eswatini (CBE) and the United Nations (UN), key policymakers, international development experts, and stakeholders convened at the Happy Valley Hotel for a roundtable forum on "Enabling Policies for Financing Sustainable Development and Enhancing Poverty Reduction" on 18 March 2024.

This critical dialogue, co-hosted by Dr. Phil Mnisi, Governor of the Central Bank of Eswatini, and Mr. George Wachira, UN Resident Coordinator, aimed at addressing the pressing challenges and opportunities in financing sustainable development and poverty eradication within Eswatini and globally.

Dr. Mnisi highlighted the domestic economic progress, acknowledging a growth path with a real GDP increase by 3.0% q-to-q and 7.7% y-on-y in Q3 of 2023, and projected growths of 4.6% in 2024 and 3.4% in 2025. Despite these positive indicators, he emphasized the need for policies that augment growth and tackle poverty, underlining the significance of collaboration in revitalizing the economy and exploring sustainable finance strategies amidst challenges like geopolitical tensions and the lingering effects of COVID-19.

Mr. Wachira's welcome remarks stressed the UN's role in supporting nations like Eswatini through guidance, expertise, and the promotion of sustainable financial management. He outlined the UN's commitment to assisting in developing policies and frameworks that ensure long-term sustainability, particularly in the face of changing energy production needs and climate change risks.

The roundtable forum served as a platform for sharing experiences, discussing policy measures, and exploring innovative financing mechanisms. Themes such as Priority Sector Lending, Just Energy Transition, and Climate Financing were central to the discussions, with a focus on strategic investments that could catalyze economic development, job creation, and environmental sustainability.

Governor Mnisi and Mr. Wachira jointly underscored the importance of shared vision and harmonious collaboration among all stakeholders to foster inclusive growth and address critical areas such as rural development, employment generation, and sustainable energy, ensuring environmental safeguards.

As Eswatini and the global community strive towards the Sustainable Development Goals, the forum marked a significant step towards leveraging policy tools and frameworks to enable financing for sustainable development. The collaborative efforts of the Central Bank of Eswatini and the United Nations signal a promising path forward in building a prosperous, sustainable future for all.