CAPE TOWN, Aug 31 – The New Development Bank (NDB) has announced a significant financial boost for South Africa’s water and sanitation infrastructure. The bank has approved a loan of up to $1 billion to support projects aimed at improving access to clean water and sanitation services for impoverished households in the country.
The funds will be allocated through South Africa’s Municipal Infrastructure Grant, a government program designed to address infrastructure backlogs and ensure that basic services reach vulnerable communities. The NDB’s loan will contribute to enhancing the quality of life for millions of South Africans by providing access to essential resources.
In addition to the South African loan, the NDB has also approved a $150 million loan in Chinese renminbi to China’s Bank of Communications Financial Leasing. This funding will be used to acquire liquefied natural gas (LNG) carriers, which are crucial for meeting China’s growing demand for the super-cooled fuel. By increasing the availability of LNG carriers, the NDB aims to help bridge the supply-demand gap and ensure a stable energy supply for China.
