During its Board of Governors meeting in Cape Town, South Africa, the New Development Bank announced it had signed multiple loan agreements. The first was to Transnet—South Africa’s leading freight transport and logistics company for R5 billion ($280 million). The project is for “modernization and improvement of South Africa’s freight rail sector” and “aims to enhance the efficiency and capacity of South Africa’s freight rail systems.”
The second project is for R17.8 billion ($1 billion) to South Africa for “infrastructure improvements in the water and sanitation sector of South Africa.” The projects will include “financing water and sanitation infrastructure that facilitates universal access to clean drinking water and adequate sanitation, promotes equitable and sustainable management of water resources.”
The third project is for RMB 150 million ($21 million) to China’s Bank of Communications Financial Leasing (BCFL) for the LNG Transportation Project. The loan will be used “to acquire at least three LNG carriers, addressing the significant increase in demand for LNG in China.”
