South Africa’s water and sanitation infrastructure development projects will get a boost of R17 billion thanks to the New Development Bank.
has approved a loan of R17.8 billion to South Africa for the financing of water and sanitation infrastructure development projects.The loan will fall under South Africa ’s Municipal Infrastructure Grant and is a conditional grant allocated to municipalities to reduce infrastructure backlogs and ensure the provision of basic services to poor households.
“We welcome the NDB's funding commitments. They will go a long way in assisting us with the funding challenges faced by some of our programmes and parastatals. This would support infrastructure projects and provide technical assistance in designing innovative funding models and institutional arrangements that could accelerate infrastructure investments at a country-level, he added.
New Development Bank South Africa Finance Business Money Matters Water And Sanitation Infrastructure
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