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South Africa agrees to $1.5bn World Bank loan to upgrade infrastructure | SA News

South Africa has signed a $1.5bn (R27.17bn) loan agreement with the World Bank, aiming to overhaul its transport and energy infrastructure and reignite economic growth, the National Treasury said on Monday.

For more than a decade, South Africa has struggled to grow as regular blackouts have crippled productivity while crumbling rail networks and chronically congested ports have frustrated major industries such as mining and vehicle-making.

The government hopes the loan will ease transport bottlenecks and improve energy security, but it did not provide details of specific projects the World Bank money would be earmarked for.

The financing should also limit rising debt-service costs as…

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