SOUTH AFRICAN GOVERNMENT HAS SIGNED A 1.5 BILLION DOLLAR LOAN WITH THE WORLD BANK TO SPUR ON INFRASTRUCTURE DEVELOPMENT.
THIS LATEST PARTNERSHIP WITH THE WORLD BANK ACCORDING TO THE NATIONAL TREASURY MARKED A SIGNIFICANT STEP TOWARDS ADDRESSING SOUTH AFRICA’S LOW GROWTH AND UNEMPLOYMENT
AIMED AT SUPPORTING CRITICAL STRUCTURAL REFORMS THAT WILL ENHANCE THE EFFICIENCY, THE LOAN AGREEMENT WAS RESILIENCE AND SUSTAINABILITY OF THE COUNTRY’S INFRASTRUCTURE SERVICES.
ACCORDING TO THE TREASURY, THE LOAN WILL MATURE IN 16 YEARS, WITH A THREE-YEAR GRACE PERIOD.
