By Thebe Mabanga
South Africa has secured a US$150 million, or about R2.5 billion, development policy loan from the OPEC Fund for International Development to support its economic reform programme, the National Treasury has announced.
“The Government of South Africa and the OPEC Fund for International Development (OPEC Fund) have signed a US$150 million development policy loan agreement aimed at supporting critical structural reforms to improve the efficiency, resilience, and sustainability of the country’s infrastructure services,” Treasury said in a statement.
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“This marks the first loan agreement between the Government of South Africa and the OPEC Fund and represents an important partnership in addressing South Africa’s pressing economic challenges of low growth and high unemployment.”
Government said the loan will support its ongoing reform programme, driven mainly through Operation Vulindlela, aimed at unlocking infrastructure bottlenecks, particularly in
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