R1.2bn to transform Cape shacks
Fidelia van der Linde
7 February 2005
Langa - The Development Bank of South Africa (DBSA) has donated R1.2-billion to help the City of Cape Town achieve its goal of eradicating shacks by 2010.
Briefing the media in Langa on Friday, CEO and MD Mandla Gantsho said the bank would lend support to the government's initiatives at national, provincial and local level to improve people's quality of life.
Gantsho said negotiations were under way between the DBSA and all three spheres of government to decide how the long-term contribution of R1.2-billion would be used.
"We are not only focusing on housing but also on economic development in the province and the provision of basic services generally", Gantsho said.
An estimated R10-billion is needed to overcome the Western Cape's housing backlog, which stands at over 200 000 houses. The Cape Town Community Housing Company has already built more than 2 500 houses for lower and middle-income groups.
The DBSA also pledged
R1-million towards the Mayor's Disaster Relief Fund to alleviate the plight of Joe Slovo informal settlement residents, and another R10-million to provide intermediate or temporary housing structures for people affected by the disaster. A recent fire at Joe Slovo razed more than 3 000 homes and left about 12 000 people homeless.
The National Housing Finance Corporation (NHFC) has also pledged R1-million towards the Mayor's Disaster Relief Fund, and will be committing between R200-million and R300-million to long-term funding of the N2 gateway project.
Source: BuaNews
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