The loan aims to bolster struggling urban infrastructure, particularly in water management, waste services, and the energy transition. This financial support is directed at South Africa’s largest cities, which are home to around 22 million residents, including Johannesburg and Durban.
The cities have been experiencing significant declines in essential services, necessitating urgent investment. Last year, the country’s Treasury announced its intention to seek additional support from global development finance institutions to complement the World Bank-backed initiative.
The upcoming loan from France is expected to be finalized soon, with French Ambassador to South Africa, David Martinon, affirming the ongoing negotiations.
The implementation and long — term sustainability of the loan will be closely monitored to ensure its effectiveness in addressing the urban challenges faced by South Africa’s major cities.
*Additional reporting by ImNews | Sources consulted: 3*
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By This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Adekunle Agbetiloye
