THURSDAY, 8.30AM
THE European Investment Bank yesterday gave South Africa a soft loan of R2 billion to finance infrastructure: and the European Union announced that it will provide another R2 billion in grants over the next three years to development projects.
The Investment Bank money will be released in parcels over three years to finance infrastructure projects aimed at increasing the productive capacity of the economy. Finance department officials will travel to Europe next week to negotiate final details over interest rates and repayments.