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 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...
Great, Soros will love to educate Saffas on an open and free Society…..spoiler alert! You might not like his execution of labour camps …….
To do what with it?
Only if it is a fixed rate for minimum 5 years will it work. The credit crunch is going to get nasty and if you have a poor rating or fail to pay with coming high interest rates not seen in a overdraft since 1980's
South African treasury?
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Treasury seeks $1bn World Bank to take advantage of lower ratesA loan at cheaper rates would reward SA for progress and commitments already made
Source: BDliveSA - 🏆 12. / 63 Read more »