Anglo American has signed a $100 million (about R1.52 billion) 10-year loan agreement with the World Bank's International Finance Corporation which is linked to the delivery of sustainability goals. | Fin24
Anglo American has signed a $100 million 10-year loan agreement with the World Bank's International Finance Corporation which is linked to the delivery of sustainability goals.
The specific goals tied to the loan agreement are aimed at supporting community development in rural communities close to Anglo American's mining operations across South Africa, including by promoting the creation of jobs as well as improving the quality of education for more than 73 000 students. Kevin Njiraini, the IFC's director for Southern Africa and Nigeria, said sustainability-linked financing is a powerful tool for mobilising capital and to incentivise companies that seek to contribute to a more sustainable future.
Jonathan Samuel, the miner's group head of responsible business partnerships, said Anglo aims to strengthen the public education system by training educators, practitioners, and school management teams; and upgrading basic school infrastructure and equipment. This will include providing Wi-Fi and computers at over 100 primary and secondary public schools in South Africa.
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