Treasury seeks $1bn World Bank loan to take advantage of lower rates
A loan at cheaper rates would reward SA for progress and commitments already made
The government is in talks with the World Bank on a fresh $1bn loan, as part of a strategy to take advantage of cheaper loans from international financial institutions over the next three years rather than going back to foreign markets at a volatile time.
It is also looking to the $8.5bn Just Energy Transition (JET) Investment Plan agreed in November with SA’s international partners for concessional foreign finance, and has already signed contracts with French and German development finance agencies for €600m of low-interest loans which recognise the progress the government has already made on energy reforms...
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