African Development Bank Approves $1 Billion Loan to South Africa’s State-Owned Rail and Ports Company
The African Development Bank said Thursday it had approved a $1 billion loan to South Africa’s state-owned rail and ports company, Transnet.
The 25-year loan was wholly guaranteed by the South African government and will help finance the first phase of a $8.1 billion investment plan for Transnet to improve the country’s ailing rail and port infrastructure, the bank said.
Photo courtesy of jbdodane.
Source: ABC News (link opens in a new window)
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