New Development Bank and Development Bank of Southern Africa sign USD 100 m Loan Agreement for SA's Sustainable Infrastructure Projects
Summary
Through investments in social infrastructure, the loan will contribute to improved quality of health services and affordable and safe accommodation. ""As the DBSA, we are committed to working with local and international partners to help us realise our mission in continuously building Africas prosperity. 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.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.intThe 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 on DBSA, please visit www.dbsa.org