Maseru — Lesotho and the Republic of Korea are exploring opportunities to deepen economic cooperation through concessional financing and knowledge-sharing programmes, with renewable energy, digital infrastructure and technology identified as potential areas of collaboration.

This comes after the Minister of Finance and Development Planning Dr. Retšelisitsoe Matlanyane held bilateral talks with Mr. Jung-hwa Seo, Executive Director and Head of the Economic Development Cooperation Fund (EDCF) Operations Group at the Export-Import Bank of Korea (KEXIM).

During this deliberations, Dr. Matlanyane highlighted that Lesotho’s sound macroeconomic management, strong debt-repayment record and readiness to transition from grant-based cooperation towards concessional development financing.

She also mentioned the country’s potential in hydropower, solar and wind energy noting opportunities for Lesotho to increase electricity generation and potentially export power through the Southern African Power Pool.

On the other hand, Mr. Seo advised that Lesotho could initially pursue the Knowledge Sharing Program to develop viable project concepts while exploring opportunities involving Korean companies, the Korea International Cooperation Agency (KOICA) and co-financing with the African Development Bank.

He recommended continued engagement through diplomatic channels to advance the areas of cooperation discussed during the meeting.

The discussions focused on opportunities for Lesotho to access EDCF concessional financing as well as Korea’s Knowledge Sharing Program (KSP) to develop viable projects that could support the country’s economic and technological development.

Potential areas of cooperation include renewable energy, electricity transmission, technology, digital infrastructure and data-centre development.

The engagement is viewed as an important step towards translating the longstanding diplomatic relations between Lesotho and the Republic of Korea into stronger practical economic and development cooperation.

Lesotho and Korea are marking 60 years of diplomatic relations, providing a platform for further strengthening bilateral ties through investment, technology transfer, knowledge sharing and sustainable development cooperation.