News
22 June 2020
New Development Bank agrees $1bn COVID-19 loan to South Africa
In:
Social infrastructure
Region:
Middle East & Africa
The New Development Bank has approved a COVID-19 Emergency Program Loan of $1 billion to the South African government.
The loan will assist the government in rolling out its healthcare response to the coronavirus crisis and in providing a social safety net to alleviate the economic impact of the disease containment measures on vulnerable individuals.
The NDB established an Emergency Assistance Facility to meet the emergency needs of its member countries. The loan to South Africa is the third approved in response to the COVID-19 outbreak.
