MBABANE: Minister of Finance Neal Rijkenberg and OPEC Fund for International Development President Dr Abdulhamid Alkhalifa have signed the Country Partnership Strategy for Eswatini covering the period 2026 to 2029.
The agreement was signed on Monday and establishes the framework for cooperation between Eswatini and the OPEC Fund over the next three years.
It also provides for a resource envelope from the Fund to support priority areas identified in Eswatini’s development agenda. 
The strategy is expected to guide future financing and cooperation between the Kingdom and the OPEC Fund, which has supported Eswatini since 2007.
The partnership covers sectors including water infrastructure, agriculture, transport, sanitation and finance. OPEC Fund approvals for Eswatini have reached approximately US$137.19 million, or about E2.2 billion.
Following the signing, Dr Alkhalifa visited development projects supported by the Fund, including the Mkhondvo Ngwavuma Water Augmentation Project and the Lower Usuthu Smallholder Irrigation Project Phase II.
The visit allowed the OPEC Fund delegation to assess progress on projects designed to expand access to water and irrigation, improve agricultural production and create opportunities for rural communities.
The Mkhondvo Ngwavuma project is focused on improving water supply and expanding irrigation in the country’s agricultural areas. The OPEC Fund approved US$20 million for the project in 2023, with the financing agreement signed in December 2024.
The wider second phase of the project has an estimated cost of US$213.5 million and includes a 38 kilometre pipeline and distribution network, as well as more than 4 100 hectares of irrigation development.
More than 35 000 people are expected to benefit from the project.
Dr Alkhalifa also visited LUSIP II, which supports irrigation and smallholder farming in the Lower Usuthu area.
The OPEC Fund previously approved US$14.16 million in 2010 for the Lower Usuthu Water Supply Project, which was intended to benefit about 30 000 people in an area where many households depended on small scale agriculture.
The projects are part of Eswatini’s efforts to strengthen water security, expand agricultural production and develop rural economies.
The visit followed meetings between Dr Alkhalifa and senior government officials, including Prime Minister Russell Mmiso Dlamini and Minister of Agriculture Mandla Tshawuka.
During those engagements, government called for financing models that support productive investment, create employment for emaSwati and generate sustainable economic returns.
The OPEC Fund said its approach was aligned with Eswatini’s vision of borrowing for growth and investment. It also said its procurement policies could support greater local participation and improve the developmental impact of projects.
