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Bank of China pledges a USD 1.1 billion loan to the South Africa Department of Trade and Industry to develop SEZs and Industrial Parks
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | South Africa Department of Trade and Industry (DTI) |
| Country | South Africa |
| Start Date | Sep 02, 2018 |
| End Date | Feb 28, 2026 |
| Duration | 2,736 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 58699 |
Grant Description
Bank of China pledges a USD 1.1 billion loan to the South Africa Department of Trade and Industry to develop SEZs and Industrial Parks On September 2, 2018, during the Forum on China-Africa Cooperation in Beijing, the Bank of China (BoC) and South Africa's Department of Trade and Industry (the DTI) signed an investment cooperation agreement to promote Special Economic Zones (SEZs) and industrial parks.
According to a media article, President Ramaphosa announced that the Bank of China will provide a USD 1.1 billion (R 16.5 billion) loan for this purpose.
The DTI and the National Development and Reform Commission of China also signed a memorandum of understanding (MoU) to cooperate on international investment promotion for SEZs and Industrial Parks.
This is a follow-up to an MoU signed by the DTI and the Bank of China on March 28, 2017, which promised greater cooperation for the development of special economic zones in South Africa. This project will include capacity and institution building and investment facilitation.
The project will prioritize assisting the DTI with the implementation of Special Economic Zones and industrial projects within Musina and Makhado in Limpopo.
Sources & References
- China commits to pumping investment into SA
- DTI
- Bank of China sign memorandum of understanding【央视英文频道】
- S Africa's trade ministry signs MOU on cooperation with Bank of China【新华网】
- President concludes productive State Visit to China
- Special Economic Zones Fieldwork 2019 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
South Africa Department of Trade and Industry (DTI)
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