New Development Bank Lends South Africa $1 Billion for 8-City Infrastructure Upgrade
Updated
Updated · Bloomberg · Jun 17
New Development Bank Lends South Africa $1 Billion for 8-City Infrastructure Upgrade
2 articles · Updated · Bloomberg · Jun 17
Summary
$1 billion from the New Development Bank will fund infrastructure upgrades across South Africa’s eight biggest metropolitan municipalities, according to Business Day.
The financing is aimed at improving basic urban services—water supply, sanitation and waste management—in the country’s largest cities.
The lender, created by the original BRICS members Brazil, Russia, India, China and South Africa, is extending the support to one of its founding shareholders.