ECONOMY
DBSA grants loans worth R2.4bn
Posted Wed, 14 Dec 2005
The Development Bank of Southern Africa (DBSA) has approved R2.4-billion in loan funding for infrastructure projects in the last six months, the institution announced on Tuesday.
The bank said half of the R2.4-billion has been used to create
an estimated 6700 jobs, 5600 of which were in South Africa.
In a statement released on Tuesday, DBSA chief executive and
managing director Mandla Gantsho said the bank had benefited from
the political stability and growing economic buoyancy in its
operating environment.
"The Bank's Targeted Infrastructure Programme has approved R140-million to under resourced municipalities, while we have also focused on the creation of jobs in tourism through the R115-million for My Acre of Africa," said Gantsho.
He said the investment in the project would go towards the
construction of an environmental education facility to be built
near the Phabeni Gate of the Kruger National Park.
The DBSA said the stable macro-economic
performance in most of
the wider region of Africa south of the Sahara has given the
institution more opportunities to fund major projects in the
region, and also bolster ties with strategic institutions in
support of the New Partnership for Africa's Development (Nepad).
Among the projects funded by the bank were a shipping project
between the major Lake Victoria ports in Tanzania, Kenya and Uganda
for which the bank gave $8-million, and a $10-million line of
credit and equity participation for the Development Bank of Zambia.
The bank also approved a loan of R175-million to empowerment
groups to acquire a 25 percent stake in the Bombela company which
was announced as the preferred bidder in the Gautrain Rapid Rail
project.
Sapa
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