The BRICS New Development Bank has approved a loan of up to 1 billion dollars to South Africa for upgrading urban infrastructure, according to June 17 media reports. The new loan will support projects under South Africa’s Program for Upgrade of Infrastructure in Metropolitan Municipalities (PUIMM), focusing on improvements to water supply, sanitation systems, electricity distribution networks and solid waste management services in Buffalo City, Cape Town, Ekurhuleni, eThekwini, Johannesburg, Mangaung, Nelson Mandela Bay and Tshwane. The urban centers are home to more than 22 million people and account for over two-thirds of South Africa’s economic output.
Under escalating attacks from the Trump administration, including efforts to ban South African President Cyril Ramaphosa from attending the Dec. 14-15 Leaders Summit of the G-20 in Miami, Florida, the loan also delivers much-needed political support to the government.
Based in Shanghai and established by BRICS founding nations Brazil, Russia, India, China and South Africa, the NDB has previously approved loans to South Africa, including a $200 million loan for the Limpopo Academic Hospital project and a $205 million facility supporting the expansion of the Magalies Water system.
