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The Economic Times

Global Business / The Economic Times

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South Africa agrees $1 billion infrastructure loan with New Development Bank

South Africa has secured a one billion dollar loan agreement. This funding from the New Development Bank will facilitate crucial municipal infrastructure upgrades. The loan carries a sixteen-year maturity and includes a three-year grace period. Interest rates are tied to Daily SOFR plus a fixed margin. The New Development Bank supports sustainable development projects in emerging markets.

15 Sep 2026 12:42 pm