Swaziland’s Parliament has approved a request by the government to apply for a US$100-million loan from the Taiwan Exim Bank to fund the construction of a five-star hotel, APA learnt here on Wednesday.Finance Minister had tabled the loan Bill with a certificate of urgency before the House of Assembly, which duly endorsed it.
One condition of the loan is that it should be repaid in 20 semi-annual instalments after a grace period of five years commencing on the date the first withdrawal application was made.
The hotel project has already taken off at Ezulwini, about 10 kilometres from capital Mbabane, alongside an international convention centre.
The country also seeks to apply for two other loans from the Kuwait Fund for Arab Economic Development.
The amounts of US$20 million and US$10 million are sought for the construction of the national referral hospital and funding of the Lower Usuthu Small Holder Irrigation Project, respectively.