FRIDAY, 11.00AM
PARASTATAL Development Bank of Southern Africa is on the verge of securing a R750-million credit line from the African Development Bank, Finance Minister Trevor Manuel said on Thursday.
Manuel added that the Land Bank and Industrial Development Corporation are also seeking loans. Speaking at the Afrivan Development Bank annual meeting, Manuel said the DBSA’s loan constituted the first time government had borrowed funds from the bank since it joined in 1995.
On Wednesday, Manuel said SA will extend $6,61-million to the African Development Bank. SA will pay $21-million over the next 10 years as part of its pledge to contribute about 1% of the bank’s capital base.