US EditionWorld Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition
- On Monday, South Africa secured a $1.5 billion Development Policy Loan from the World Bank aimed at upgrading transportation infrastructure and facilitating the country's move towards a low-carbon economy.
- The loan aims to address South Africa's structural economic challenges including low growth, high unemployment, and infrastructure bottlenecks in energy and freight sectors.
- The financing features favorable terms including a 16-year maturity, three-year grace period, and interest rate of 6-month SOFR plus 1.49%, aligning with government debt strategy.
- Finance Minister Enoch Godongwana announced over R1 trillion budget allocation for transport, energy, water, and sanitation infrastructure over three years to support growth and services.
- The loan and reforms are expected to improve power reliability, freight mobility, and climate resilience, enabling inclusive growth and job creation while limiting debt-service costs.
15 Articles
15 Articles
Associated Press News
World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition
South Africa's National Treasury says the World Bank has granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and help it transition toward a low-carbon economy.
South Africa agrees to $1.5bn World Bank loan to upgrade infrastructure
The government hopes the loan will ease transport bottlenecks and improve energy security, but it did not provide details of specific projects the World Bank money would be earmarked for.
South Africa Signs U.S.$1.5 Billion Loan With World Bank
[SAnews.gov.za] The South African government and the World Bank have signed a US$1.5 billion Development Policy Loan Agreement that will assist in unlocking key infrastructure bottlenecks, particularly in the energy and freight transport sectors.
SA Signs US$1.5 Billion Loan With World Bank - Infrastructure news
The South African government and the World Bank have signed a US$1.5 billion Development Policy Loan Agreement that will assist in unlocking key infrastructure bottlenecks, particularly in the energy and freight transport sectors. In a statement on Monday, the National Treasury explained that the loan is aimed at supporting critical structural reforms to enhance the efficiency, resilience, and sustainability of the country’s infrastructure servi…
The World Bank granted South Africa a loan of $1.5 billion to improve transport infrastructure and help in its transition to a low-carbon economy, the country’s National Treasury reported Monday.
Coverage Details
Bias Distribution
- 45% of the sources lean Left, 45% of the sources are Center
To view factuality data please Upgrade to Premium
