The loan agreement was signed during NDB’s 9th Annual Meeting by NDB President, Dilma Rousseff and Transnet Group Chief Executive, Michelle Phillips.
Picture: Vernon Pillay/Independent NewspapersAccording to a statement by the freight transport and logistics company, this investment would help support the modernisation and improvement of South Africa ’s freight rail sector.
“This loan underscores NDB’s commitment to supporting sustainable development and economic growth in South Africa. By modernising the freight rail sector, we aim to facilitate more efficient logistics operations that will benefit the entire region and align with our goal of investing in a sustainable future,” she said.“This investment is important for Transnet, as we accelerate the implementation of the Recovery Plan and economic reforms.
The hope is that the NDB will continue to play a major role in fostering this drive and responsibility to address key areas like green energy, digital transformation and infrastructure development, the minister said.
New Development Bank Brics South Africa Enoch Godongwana Infrastructure Money Matters Business Finance
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Transnet secures R5 billion loan at New Development Bank meeting in Cape TownThe loan agreement was signed during NDB’s 9th Annual Meeting by NDB President, Dilma Rousseff and Transnet Group Chief Executive, Michelle Phillips.
Read more »
Indebtedness of developing nations a barrier to sustainable development: New Development BankThe bank's governors formed by the original five BRICS nations, Brazil, Russia, India, China and South Africa in 2015 are meeting in Cape Town to discuss investment for a sustainable future.
Read more »
African Development Bank Invests $20 Million in Infrastructure Fund to Catalyze Continental DevelopmentAnnouncement - The African Development Bank has signed a $20 million equity investment in the African Infrastructure Investment Fund 4 (AIIF4). The deal, signed on 31 July 2024, reinforces the Bank's commitment to fostering private sector development and boosting infrastructure across the continent.
Read more »
New Development Bank meeting looks to create a platform for sustainable investment in BRICS nationsThe annual meeting will include topics on how to create a fertile ground for continuous investment in BRICS nations.
Read more »
How the New Development Bank has made an impact on South AfricaFormed in 2015 to fund development projects in the BRICS countries, the NDB has already forged a proud legacy through numerous investments in these regions.
Read more »
A look at what the New Development Bank does and who heads up the organisationMembership of the bank is open to members of the United Nations, and the bank supports public and private projects through loans, guarantees, equity participation and other financial instruments.
Read more »