Diplomacy

Taiwan Proposes US$31M To Boost Eswatini's Economy, Fund Industrial Park

Published
Updated

By TaiwanPlus

Open in App

Taiwan's foreign ministry has proposed spending around US$31M in its 2027 budget to boost the economy of its only African ally Eswatini, including funding for an industrial park. The budget marks an increase of nearly 10% from last year and is pending government review. President Lai Ching-te visited Eswatini in May despite pressure on neighboring countries to block his flight.

Taiwan to Invest $31 Million in Eswatini to Boost Economic Ties

REPORTER:  
Taiwan plans to spend around 31 million US dollars to boost the economy of its ally Eswatini.

The foreign ministry’s 2027 budget proposes funding for an industrial park in the country to bolster Taiwan’s presence there. The budget is up nearly 10 percent from last year and is pending government review. President Lai Ching-te visited Eswatini in May despite Chinese pressure on neighboring countries to block his flight. Eswatini is one of 12 countries that maintain formal ties with Taiwan, and the only one in Africa.

Taiwan is proposing to spend around 31 million US dollars to boost the economy of Eswatini, its last remaining African diplomatic ally.

The funding is for an industrial innovation park to help create jobs and attract more Taiwanese investors to invest in Eswatini and expand their presence across Africa. The proposal was included in the foreign ministry’s fiscal 2027 proposal, which is also up nearly 10 percent year-on-year, and is pending lawmaker’s review. President Lai Ching-te in May visited Eswatini despite Chinese pressure on neighboring countries to block his flight.