SA secures R5bn loan from AfDB to fight Covid-19
Though SA is ranked as the most prepared African country to deal with a pandemic, big challenges remain in the public health sector
The African Development Bank (AfDB) has granted SA a R5bn loan, to support its fight against the Covid-19 pandemic, it announced in a statement late on Wednesday.
The loan is the second to be approved by an international finance institution, with the New Development Bank extending a $1bn (roughly R16.5bn) loan to SA in June. In his recent supplementary budget speech finance minister Tito Mboweni said SA hopes to raise $7bn from international finance institutions ..