Brics bank lends R5bn to Transnet
This adds to the $5.8bn in concessional loans that the bank has already advanced to SA over the past five years
30 August 2024 - 11:37
UPDATED 30 August 2024 - 11:54
The New Development (Brics) Bank has approved a R5bn loan to Transnet to support the freight rail sector, the bank disclosed at its AGMs in Cape Town on Friday.
The loan, guaranteed by the government, will add to the $5.8bn (about R102bn) in concessional loans that the bank has already advanced to SA over the past five years. It is also one of the first to be made in rand, rather than dollars, in line with the NDB’s aim to do about 30% of its lending in local currency...
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