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NEW DEVELOPMENT BANK AND DEVELOPMENT BANK OF SOUTHERN AFRICA SIGN USD 100M LOAN
AGREEMENT FOR SA’S SUSTAINABLE INFRASTRUCTURE PROJECTS


BREADCRUMB

 1. Home
 2. New Development Bank and Development Bank Southern Africa Sign Usd 100m Loan



13 October 2023 - The New Development Bank (NDB) and the Development Bank of
Southern Africa (DBSA) are pleased to announce the signing of a USD100m loan
agreement aimed at advancing sustainable infrastructure development in South
Africa.

This is continuation of NDB’s strategic cooperation with DBSA, a leading
development finance institution operating across Sub Sahara Africa and
headquarted in South Africa. This is a second NDB loan agreement to DBSA,
following the successful implementation of the first loan of (USD 300 m), which
was earmarked for renewable energy.

Under the terms of the loan agreement, the NDB will provide the U$D100m loan to
the DBSA for a range of sustainable infrastructure development projects in South
Africa, aimed at improving the country’s economic resilience, environmental
sustainability and overall economic growth.

The key features of the loan agreement include providing financing in South
Africa towards:

 * Clean and renewable energy
 * Social infrastructure (including affordable housing, student accommodation
   and private health care
 * Digital infrastructure

The loan will support socio-economic development in South Africa and may also
contribute to climate change mitigation through increasing power generation
capacity from renewable energy sources. Through investments in social
infrastructure, the loan will contribute to improved quality of health services
and affordable and safe accommodation. The loan will also lead to improved
digital connectivity through extended broadband networks across the country.

In line with the NDB’s General Strategy for 2022–2026, NDB is facilitating the
participation of the private sector in addressing infrastructure backlogs and
scaling up investments in infrastructure whilst also broadening its development
impact and covering new sectors of the South African economy, such as social and
digital infrastructure.

“Signing of this loan agreement and recommitting to the DBSA is a testament of
the strategic partnership between NDB and DBSA. Our collaboration highlights a
shared vision of promoting sustainable infrastructure development initiatives
and driving economic growth in South Africa, in line with its national
development plans and priorities,” says Mr. Vladimir Kazbekov, NDB VP & COO.
“Multi-stakeholder cooperation is indispensable to close the immense
infrastructure financing gap in BRICS and other EMDCs. Given this, NDB
strengthens cooperation with peer multilateral development banks, national
financial intermediaries, and development finance institutions, such as DBSA.”

“As the DBSA, we are committed to working with local and international partners
to help us realise our mission in continuously building Africa’s prosperity.
This partnership aligns with both institutions' commitment to the United Nations
Sustainable Development Goals (SDGs) and represents a positive step toward
achieving a more sustainable and prosperous future for South Africa and its
people. It is through these multi stakeholder engagements such as BRICS, that we
can accelerate economic growth across our respective countries,” adds Ms.
Boitumelo Mosako, DBSA Chief Executive Officer.

END

Background Information

New Development Bank

NDB was established by Brazil, Russia, India, China and South Africa to mobilize
resources for infrastructure and sustainable development projects in BRICS and
other emerging market economies and developing countries, complementing the
existing efforts of multilateral and regional financial institutions for global
growth and development. In 2021, NDB initiated membership expansion and admitted
Bangladesh, Egypt, United Arab Emirates and Uruguay as its new member countries.

For more information on NDB, please visit www.ndb.int

About the Development Bank of Southern Africa

About the Development Bank of Southern Africa (DBSA) - The DBSA is a leading
Development Finance Institution (DFI), wholly owned by the government of South
Africa. Established in 1983, the DBSA is mandated to promote economic growth and
regional integration by mobilising financial and other resources from national
and international private and public sectors for sustainable development
projects and programmes in South Africa, SADC, and the wider African continent.

For more information visit www.dbsa.org. Email: dbsa@dbsa.org


For more information, please contact:

NDB
Tel: +27 11 043 2000
Email: media@ndb.int, enquiries.arc@ndb.int

DBSA
Tel:  +27 11 313 3511
Email:  dbsa@dbsa.org, desireem@dbsa.org


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