MBABANE – Finance Minister Neal Rijkenberg has signed a financing agreement with Taiwan’s Export-Import Bank to fund the construction of Eswatini’s first Strategic Oil Reserve Facility.
The signing took place this week, marking a key step in efforts to boost the Kingdom’s energy security. The facility will serve as a national fuel reserve, allowing Eswatini to better manage fuel supply challenges caused by global market disruptions.
The agreement comes as part of a broader plan by government to reduce vulnerability to international supply shocks and improve long-term fuel storage capacity. The Ministry of Finance described the deal as a milestone in strengthening national preparedness and reducing dependency on immediate fuel imports.
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