BY MBONO MDLULI
LOBAMBA – The Republic of India has pledged a generous E108 million loan to support the construction of a modern new Parliament building.
The announcement came to light during the Ministry of Economic Planning and Development’s first quarter performance debate for the 2025/26 financial year, held in Senate on July 29, 2025. The session was chaired by Senator Linda Nxumalo, who leads the Senate’s portfolio committee for the Ministry.
A Vision for Modern Governance
The new Parliament building is envisioned as a state-of-the-art facility that will replace the current structure, reflecting the country’s growth and the evolving needs of its legislative arm. It will be strategically located along the Lozitha–Ludzidzini road, aligning with national aspirations for a stronger, more effective governance environment.
His Majesty King Mswati III has previously emphasized the importance of this project, alongside a proposed National Data Recovery Centre, as key drivers of national development, institutional efficiency, and economic resilience.
Favourable Loan Terms
Eswatini will benefit from a soft loan facilitated by the Export–Import Bank of India (Exim Bank India), which Parliament authorized in October 2020. The loan structure is highly favourable: it includes a five-year grace period, followed by repayment in 40 semi-annual installments at a low interest rate of 1.75% per annum. Management and commitment fees are capped at 0.5% each.
Parliamentary Village: A Strategic Addition
In a forward-thinking second phase, plans are underway for a Parliamentary Residential Village. This multi-million Emalangeni development will consist of 120 housing units for Members of Parliament and senators. Expected to reduce long-term housing costs for the legislature, the village could also generate income during off-session periods. The project will be delivered via a Public-Private Partnership with African Alliance, and is currently undergoing final negotiations.
With this partnership between Eswatini and India, the country takes a bold step forward in building institutions that reflect its vision for prosperity, efficiency, and national pride.
(Courtesy Pic)
