SA has secured a $1bn (R14.5bn) emergency loan from the New Development Bank (NDB) — the multilateral finance institution it established with Brazil, Russia, India, and China in 2014 — to help the country deal with the impact of the Covid-19 pandemic.

The NDB’s board of directors approved the $1bn “Covid-19 emergency programme loan to support SA’s economic recovery from the pandemic”, according to a statement posted on the Shanghai-based lender’s website on Thursday. The duration of the loan and its stipulated interest rate were not disclosed...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now