The New Development Bank has approved a $1 billion loan to South Africa to help the country's fight against the coronavirus (Covid-19) pandemic.
Pretoria - The New Development Bank has approved a $1 billion loan to South Africa to help the country's fight against the coronavirus pandemic, the National Treasury said on Saturday.
The programme would contribute to providing critical healthcare resources and strengthening the social safety net in South Africa. The positive impacts would include improving the resilience of the public health sector and health emergency response systems, and facilitating socio-economic recovery. "National Treasury welcomes the approval of the loan and, together with NDB, are working on final technical and administrative requirements. Final details on the loan will be published once all processes have been concluded," the Treasury said.
“Such focus of the bank’s financing is in line with the emergency loans provided by the NDB to China and India earlier this year,” he said.
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