The New Development Bank and the South African government have signed loan agreements worth US$405 million to fund the Limpopo Central Hospital Project and the Magalies Bulk Water Supply Scheme.
South Africa has secured two loans worth a combined US$405 million (about R7.4 billion) from the New Development Bank (NDB) to fund a new tertiary hospital in Limpopo and a major bulk water supply scheme serving communities in Limpopo and the North West.
The loan agreements, announced by the National Treasury on Friday, form part of government's efforts to strengthen critical infrastructure while meeting growing demand for healthcare and water services.
The NDB will provide a US$200 million loan for the Limpopo Central Hospital Project in Polokwane and a further US$205 million for the Magalies Bulk Water Supply Scheme.
The National Treasury said the agreements continue the partnership between South Africa and the multilateral lender in advancing sustainable infrastructure development.
