World Bank loan is a shot in the arm for SA’s Covid efforts
R11bn low-interest loan spells welcome reinforcements for the government’s R500bn fiscal relief package and will boost its efforts to stem the pandemic
The World Bank has approved an R11bn ($750m) loan for SA’s under-pressure National Treasury, which, besides needing to fund the battle against Covid, is desperate to boost an ailing economy facing another interest rate increase.
The low-interest development policy loan will form part of the government’s R500bn fiscal relief package. Besides boosting the fight against the pandemic, the money will also offer support for resilient and sustainable economic recovery, the Treasury said in a statement...