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China Development Bank to provide $5 billion USD loan for railway and port infrastructure
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Transnet SOC Ltd |
| Country | South Africa |
| Start Date | Mar 01, 2013 |
| End Date | Aug 03, 2032 |
| Duration | 7,095 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 30531 |
Grant Description
China Development Bank to provide $5 billion USD loan for railway and port infrastructure In March of 2013, after the fifth BRICS Summit hosted in Durban, South Africa, China Development Bank signed to provide a $5 billion USD 5-year loan to South African state-owned company Transnet. The loan will support a railway and port infrastructure rehabilitation program.
This railway program is estimated to cost US 33.82 billion USD and is to take place over 7-years.
The deal also covers non-financial cooperation on local manufacturing of equipment and cooperation on developmental infrastructure projects.
Sources & References
- South Africa : $US 5bn loan from CHINA DEVELOPMENT BANK to TRANSNET
- Transnet to cooperate with China Development Bank
- S. Africa
- China sign infrastructure upgrading agreement
- Transnet secures $US 5bn Chinese loan
- Transnet in Chinese rail funding pact
- China Development Bank Lends South Africa’s Transnet $5 Billion
- Transnet
- China Development Bank sign pact
- China Development Bank lends South Africa's Transnet US$5 billion
- SA rail firm Transnet gets $5bn loan from China
- South Africa: Transnet
- China Development Bank Sign Agreement
- China to loan Transnet R46bn Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Transnet SOC Ltd
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