South Africa is to pay a portion of Liberia’s debt to the African Development Bank (ADB), an amount exceeding R26-million, government communications head Themba Maseko said on Thursday.
Briefing the media after the Cabinet’s fortnightly meeting on Wednesday, he said the meeting had approved a request from the ADB for South Africa ”to contribute to clearing Liberia’s unpaid debt to the bank”.
Maseko told journalists: ”South Africa will avail $3,6-million (R26,3-million), amounting to 6,25% of the amount requested from bilateral donors as our contribution to the clearance of Liberia’s unpaid debt to the ADB.”
Later, responding to a question, he said this meant South Africa was giving the money, and not lending it. It would come from Treasury’s 2006/07 fiscal-transfers budget. — Sapa