Development Bank of Southern Africa gets $100 million loan for sustainable infrastructure

By Marisa Wong

Los Angeles, Oct. 13 – Development Bank of Southern Africa (DBSA) signed a $100 million loan agreement aimed at advancing sustainable infrastructure development in South Africa, according to a press release.

DBSA signed the agreement with New Development Bank (NDB). This is the second NDB loan to DBSA; the first loan of $300 million was earmarked for renewable energy.

The key features of the new loan agreement include providing financing in South Africa toward clean and renewable energy; social infrastructure including affordable housing, student accommodation and private health care; and digital infrastructure.

Specifically, the loan will support socioeconomic development in South Africa and may also contribute to climate change mitigation through increasing power generation capacity from renewable energy sources. Through investments in social infrastructure, the loan will contribute to improved quality of health services and affordable and safe accommodation. The loan will also lead to improved digital connectivity through extended broadband networks across the country, according to the press release.

Based in Midrand, South Africa, DBSA is wholly owned by the government of South Africa. NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects.

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